After staggering growth during the pandemic, the U.S. housing market is starting to cool fastest in cities along the west coast, according to a Redfin analysis.
"The velocity of price increases will certainly diminish significantly," said Cohn, predicting a"healthy normalization" of the real estate market.
"The good news is that these buyers most likely got locked into a lower interest rate, so the payments should be more manageable than someone buying now," said Matthew Chancey a certified financial planner with CoastalOne in Tampa, Florida.
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