Housing activity indicators displayed further gradual improvement in August. Single-family housing starts and permits have rebounded over the past three months. New and existing home sales rose in August. A still-strong labor market and low mortgage rates could continue to provide support to housing.
Home price change expectations continued to decline. Median home price change expectations declined by 0.1 percentage point in September to a new series low of 2.8%.
It would appear that these indicators suggest that the housing market is slowing but that it will maintain a more balanced or steady market moving forward & that rampant appreciation is no longer in the forecast but barring a major economic event neither is a market collapse.
More information can be found at the U.S. economy in a snapshot/October 2019