The Housing Market Has Started to Slow Down
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The Housing Market Has Started to Slow Down


A slowdown has hit the housing market when
it comes to home prices. I’m Ilyce Glink with today’s Real Estate
Minute. Though home prices according to Zillow, were
up 6-point-4 percent year over year in the third quarter and up 1-point-2 percent from
the end of the second quarter – the pace is slowing down. In the first quarter, home
values rose nationally by one quarter of one percent but in the second quarter they jumped
2-point-4 percent. That growth was halved in the third quarter with prices remaining
unchanged from August to September. But that’s a good thing. Zillow’s chief economist says
if home values had continued to rise, we could have been headed into another bubble cycle
which nobody wants. He suggests that the market recovery is moving into a more sustainable
level. The slowdown will actually help some communities that were starting to see a new
housing bubble form. In California for example, after modest losses during the crash, the
booming gains were threatening to make homes unaffordable to anyone but wealthy buyers. I’m Ilyce Glink, for more details and links
visit my website, ThinkGlink.com, where we’re rebuilding America, one house at a time.

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