How is the real estate market in the US? I understand the market is slowing.
Always remember to look at statistics in detail. My statistics show that US new sales are down 7% over March, used sales are higher.
1. New sales represent less than 6% of the overall real estate sales. Used sales represent 94% of the market and are up by 4% (according to NAR).
2. Monthly swings from one month (March to April etc.) to the next are a useless exercise. What matters is how April 2019 performance measured against April 2018 or 2017? Now you can make an informed decision as to the direction of the market (Vancouver March-April sales were higher, yet April vs April 2018 were 30% lower and against April 2016 65% lower!
Major Point: US Interest rates have come down; sales remain strong and US consumers are spending. Finally, we are being asked which cities we like – just revisit Oz Buzz #25 for our top 5 favourite cities. The total ‘about turn’ of the FED will see US rates cut further by September.