With all the buzz flying around about a market crash, we wanted to set the record straight in this month’s..
FICTION: “The real-estate market is crashing!”
FACT: While we are seeing activity slow slightly, we’re still in a Seller’s Market due to low inventory. In Summary:
- It’s still a Seller’s Market
- A recession doesn’t mean home prices will fall, pricing remains strong, inventory remains low
- The shifting market is great for NEW BUYERS
- Housing experts project continued price appreciation
1. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast.
2. Home prices are still rising by double digits year over year, but annual gains should moderate to 5% by year end and into 2023.
3. Today, data shows buyer demand is moderating in the wake of higher mortgage rates, but a shift in the housing market is good news for those with a home buying plan.
4. In four out of the last six recessions home prices still appreciated, and experts project the same for this year’s forecast.
