A new trend? Sales and prices declining

The National Association of Realtors recent release of April’s housing data shows that nationwide the supply of houses for sale increased by 1.4 percent over March and 5.8 percent over March 2018. However, even with more inventory sales declined 0.4 percent from March, marking the 14th consecutive month of declining sales.

Several large markets saw a decline in prices as well, lead by Seattle where values dropped by 4.5 percent over the previous year.

Other top markets which have seen a significant cooling since February include San Jose, San Francisco, Los Angeles, and Portland. Meanwhile, the overall housing supply in these areas is up 40.2 percent year over year.

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