Is the Real Estate Market Cooling Down?
The real estate market appears to be cooling down just a bit after a record breaking spring. Existing home sales declined just slightly in May, but buyers’ interest remains strong as mortgage applications rise again. Meanwhile, many are asking whether lumber pricing will remain high? We take a closer look This Week in Real Estate.
“The market’s outlook is encouraging. “Supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.”Lawrence Yun, National Association of Realtors, chief economist