Housing market ‘gold rush’ over, but don’t expect prices to fall, economist says

The rush of buyers in the U.S. housing market last year and earlier this year was “like a gold rush,” but those days appear to be over, PNC Financial Services Group Senior Economist Abbey Omodunbi told Orlando Business Journal. 

However, the ongoing moderation of home sale activity and price gains doesn’t mean the market will shift in favor of homebuyers. In fact, it’s the opposite, Omodunbi said. “It’s going to be a seller’s market for the next couple of years.”