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Zillow: Home seller's market will last until 2020


Home sellers will remain in the driver’s seat through next year, according to housing economists surveyed by Zillow.

The majority of the 100 surveyed economists predicted that the housing market would remain a seller’s market despite the recent uptick in listings and slowing growth in prices, Zillow reported. Only the Midwest region is expected to turn in favor of buyers next year.

“For the past several years, home sellers held all the cards at the negotiating table, fielding multiple offers while buyers faced stiff competition and a fast-moving market," Zillow Senior Economist Aaron Terrazas said.

"Conditions are starting to show signs of easing up, but the effects of years of limited construction still linger," he continued. "Inventory is still falling on an annual basis, and home values are growing well above their historic pace. Although these trends are starting to lose their edge, it is far too soon to call it a buyers’ market."

The largest percentage of respondents, or 43 percent, believed that the market would shift in favor of buyers in 2020.

Zillow’s quarterly survey was conducted by Pulsenomics LLC. 


 

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