Do less mortgages mean that the housing market is slowing down?

It looks like mortgages have started to decrease. Finally after all of the rate hikes and everything that has happened in the country this year things are slowing down. I have heard talk among several individuals, including bankers that the boom we've seen recently seems to be coming to a plateau. I hope that this is the case. A friend in Las Vegas is trying to sell his home and can't seem to find a buyer even though it is cometitively priced and in a great neighborhood. Could these be signs that the market is saturated or will we continue to see steady growth in the future? The demand for loans is decreasing, and hopefully the housing market will follow the same trend.


Bree said...

I like the fact that the market is slowing down and that rates are finally dropping, but, we also have a huge supply of homes that people still are unable to afford. What I'd like to see happen is the prices going down so that the market will level out with the income rate. Otherwise, these homes will simply be sitting vacant and virtually going to waste.

Liz said...

I would hope for this to but I don't think that it is true. Interests rates go up and down. The market for housing also does. But the trend shows still an increase in the housing market. So someone out their must still be buying houses.

Dr. Tufte said...

-1 on Maddy's post for spelling errors.

-1 on Liz's comment for spelling errors.

I don't see anything other than localized signs of a plateau in certain regions so far.

alberthaanstra said...

Hi Blogger! Ik ben op zoek naar hypotheken Zou Afab echt zo goed zijn als iedereen beweert? Of kan ik beter zoiets als Geldshop proberen?

Groetjes Albert