What is the housing market domino effect?
When you hear people talking about the domino effect; they’re talking about the problems in the housing marketing which started last year and have continued to deteriorate this summer. Basically, the “domino” effect in the real estate market is when first-time home buyers are shut out of the housing market and that prevents home sellers from move up buys. That means people who are ready to move up to a bigger house aren’t able to sell their existing homes to that once reliable market – the first-time homebuyer. The number of homes for sale around the nation jumped over the past year, according to figures from ZipRealty, a California-based real estate broker. Zip monitors 18 metro-area markets from all four regions of the country. For the 12 months ended July 31, only Boston and San Diego showed drops. Boston’s inventory fell 5.8 percent and San Diego’s dropped 2.1 percent. The average for the 18 cities was a 19 percent increase in homes on the market, a total of 810,566. The high inven
