According to the latest U.S. National S&P CoreLogic Case-Shiller Home Price Index release, home price appreciation was up 5.5 percent annually in September 2018, marking another downtick in growth.
Home price growth slowed down in September and is expected to slow again in October 2018, writes Zillow director of economic research Aaron Terrazas. Market conditions continue to swing toward buyers' favor, says Terrazas, with rising supply in hot markets and more price discounts. Though, he notes, "Inventory is up, but from incredibly low levels that will not fully recover for years – and competition for the most affordable homes remains as fierce as ever."
Additionally, a softening rental market may give some would-be buyers a little extra time to organize their finances and save more without the added pressure of an impending rent hike to force their hands. But while the pendulum is slowly swinging back in favor of buyers, make no mistake that sellers and current homeowners still have an advantage in this game of tug-of-war.
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