Are home sales slowing down?

The Commerce Department said on Friday new home sales dropped 12.8% to a seasonally adjusted annual rate of 635,000 units last month. It was the biggest monthly decline since July 2013. New home sales last month were 4.3% higher than in July 2018. The median new house price was $312,800, down 4.5% from a year earlier.Click to see full answer. Moreover, are home sales slowing?U.S. housing sales, a key pillar of economic growth in recent years, are looking weaker again. Existing home sales declined for much of 2018. In December, according to the National Association of Realtors, sales of single-family homes, condos, and co-ops fell a larger-than-expected 6.4% from the previous month.Also, is the housing market going to crash in 2019? Economist Robert Shiller has already warned that the U.S. housing market might crash and home prices could start declining. And now, the monthly housing trends report for August 2019 from Realtor.com (a real estate listing website) suggests that a housing downtrend might be around the corner. Regarding this, is the housing market going to crash in 2020? While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020. Still, prospects of the U.S. housing market are considered to be bright in 2020, primarily due to low mortgage rates.Will the housing market crash again?The U.S. housing market has recovered from the 2008–09 financial crisis, with home prices exceeding the pre-collapse valuation in many areas. Despite a record bull market over the past decade, the housing market in the U.S. could enter a recession in 2020, according to Zillow.