24 September 2018

According to the Conference Board, although it predicts cooling of the real estate market during the second half of 2018, a sharp correction will hardly happen.

The market demand is still restrained by the new mortgage rules, and prices for existing homes are down by about 6.5% annually.

Growing interest rates and an aging population will also affect the demand. Another restraining factor is a more moderate employment growth: 213,000 new jobs are expected this year, while the number reached 337,000 in 2017. In addition to it, wages were up by 3.1% in 2018, but may go down sharply next year.