Oct 20, 2018 - Economy

Housing market falters despite strong economy

Painted ladies San Francisco.

The Victorian Rowhouses In Haight-ashbury Neighborhood. San Francisco. Photo by: Francesco Vaninetti/ClickAlps/REDA&CO/UIG via Getty Images

The housing market has reached its longest downfall in four years, The Wall Street Journal reports.

Why it matters: Though the economic growth has been strong, rising mortgage rates and high home prices are still prevalent. The new tax law has also lessened incentives for people to buy homes. The report states that buyers have more choices and aren't as inclined to sign on with one home right away.

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