The housing market has been hot for a while. As the number of buyers outpaced the number of houses for sale, competition and prices rose.
But just as competition helps push prices higher, higher prices help motivate homeowners to sell. Which is where we are today. Americans feel now is a good time to sell a house and, as more homeowners decide to list theirs, prices and competition will begin to slow down. That should start making conditions more favorable for buyers. But when will the seller's market become more buyer friendly? Well, that depends on a number of factors. One new survey shows the tide may have already started to turn. That's because survey results show 75 percent of Americans feel their local housing market is “cooling off” and an almost equal number report competition easing. Which means, the number of buyers and the number of available homes has become more balanced, which is good news for home buyers looking to make a move in the coming months. More here.