InternationalMarkets & Economy

What’s next for the housing market?

  • It is becoming less of a seller's market everywhere -- buyers are starting to be more picky.
  • Chinese buyers will continue to come to the US as their market has some wobbles in a flight to safety.

Jenna Bascom / Inman.com The question on everyone's lips: How are fluctuations in China, Wall Street and the 2016 election going to affect the real estate market in the next year? Chinese ructions will be good for U.S. real estate as investors make a flight to safety, said Zillow chief economist Svenja Gudell at Inman Connect New York today. "We will see an uptick in high-end Chinese investors in markets like New York, San Francisco and Miami at the higher end," she predicted. Two weeks to contract -- at the right price In the current market, a quarter of the market is going under contract in two weeks, said Nela Richardson, Redfin's chief economist. "But it has to be at the right price," she said. "It has been a seller's market for so long that sellers are used to setting the price." "Buyers don't want to overpay anymore," she said. "They are picky about what they are putting money into. What we are seeing on the ground is that a lot of people are touring and fewer ...