Redfin Research Indicates Positive Purchase Activity in the Remainder of 2018
New research from Redfin is pointing towards and increase in positive purchase activity for the second Half of 2018, according to a recent report. The company has reports a stall in home price increases and limited inventory in June 2018.
"Home prices were up 5.7% on a year-over-year basis in June, the smallest annual increase since December 2016. The national median price was $312,170, Redfin said,' according to National Mortgage News.
"At the same time, for-sale inventory fell by 6% year-over-year, which continues a gradual easing that started in January."
Together these numbers could make for a perfect combination in the housing market and purchasing activity for the second half of the year.
"If mortgage interest rates remained flat, home price appreciation slowed and the inventory increased, it could boost the housing market out of the doldrums of the first half of this year as homes become more affordable for consumers, Freddie Mac Chief Economist Sam Khater previously said in his latest forecast," according to NMN.
Interestingly enough some of the top housing markets are starting to see some relief in what has been very tight inventory constraints. Some of the housing markets that have seen this relief include Portland, San Jose and even Seattle.
To learn more about Redfin's research and what to expect in terms of purchase activity for the remainder of 2018, click on the image above.