June 18, 2019, WALTHAM, Mass. — This month, Home Value Forecast has added a Market Condition ranking to our forecast, which is showing us a new change of pace in the growth and strength of nationwide markets.
Based on our scoring system, each metro is classified into seven market conditions: Hot, Strong, Good, Normal, Soft, Weak, and Distressed. “What’s happening is that the pace of change in California and Washington state, metros that consistently landed on our Top 10, has slowed,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “While being some of the most expensive markets, they all have seen their rate of sales decrease slightly, and now fall in our “Normal” market condition ranking.”
At the time of our report, roughly 75% of all metros in the United States are in the “Good, Normal, Soft” condition of our market rankings, meaning the overall market is still healthy but is in a period of change. Our full report will highlight the potential causes of this shift and what that could mean for market performance as the year goes on.
Click here to read the entire report, including data and graphs that further highlight market trends discussed in this release.
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