Zillow’s results for the third quarter showed that the housing market is slowing down now with prices appreciating at a slower pace, more unsold inventory available for sale and mortgage rates at record lows. Also, since the market slows down typically by the end of the year due to the holiday season and the winter, the current deceleration marks a new normal.
Starting August 2012, home values started to shoot up across the country. Several experts expressed their concern over another emergent housing bubble and eventually when the housing stall occurred due to the cold freeze in January 2014, concerns mounted.
However, as months passed the indicators slowly bounced back to normal with sales in the spring and summer typically heating up and now losing steam.