Intertwined Forces Driving Housing Market Crazy

The housing market is crazy!  More than one industry professional has reached that conclusion, watching trends that seem inconsistent, if not contradictory. 

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‘Tis the season for economic forecasts  and we’ve rounded up several for you to round out our summary of the December economic reports. Beginning with where we are now.

What has been a quiet hum of concern about the housing market has grown louder, reflected in the comments of industry analysts and in headlines such as these: “Home Buyer Demand Cools Off”; “Housing Market Showing Signs of Cracking”; “Is the High-Flying Housing Market Heading for a Fall?”

After several months of declining home sales, analysts have begun using the f-word ─ falling ─ to describe the housing market’s trajectory. “The housing market is stumbling through its longest slump in four years, as the divergence between a booming U.S. economy and weakening home sales that many had dismissed as temporary now looks poised to continue,” the Wall Street Journal reported.

Summer temps have been heating up but the employment market cooled slightly in June. Employers added 213,000 workers for the month, beating less optimistic expectation, but lagging May’s total of 244,000 – revised upward from the 223,000 reported initially.