While all real estate markets are local, recent data suggests that even the hottest US sellers’ markets are beginning to cool down. For companies that relocate employees, that should be mostly good news as we look at the real estate market in 2019.
“The signs are pointing to a market that’s shifting toward buyers,” says Danielle Hale, chief economist of realtor.com®. “But in most places, we’re still a long way from a full reversal.”
The real estate market has more than recovered from the 2008 economic crisis, and some coastal cities seemed to be entering bubble territory. The median home price in Manhattan rose from $400,000 in 2000 to $1.29m this year. During the same period, the median in San Francisco increased from $415,000 to $1.35m. Part of this growth is driven by booming local economies and constraints on new housing construction—particularly of the more affordable variety. Read More