The balance of power in the US housing market will shift from sellers to buyers by 2019, according to experts surveyed by Zillow.
The number of prospective homebuyers grew through the economic recovery, attracted by historically low mortgage rates and steady jobs growth. This demand, coupled with tightening inventories, created a favorable market for sellers.
But it worsened affordability for buyers. A report Tuesday showed that the S&P Case-Shiller index of US home prices rose in September past the July 2006 level — right before the housing boom topped out — to an all-time high.
However, Zillow forecasts that the market will soon swing to favor buyers.