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Hedge Against a Recession With Homeownership

What buyers and sellers need to know about a potential recession. 

Are we at the beginning of a housing market crisis? If you pay attention to the media, you know that concerns about a recession are everywhere. However, an economic recession doesn’t necessarily mean a housing crisis; in fact, we are still in the middle of a historic housing shortage. 

There’s less competition for buyers right now.

Many of our buyers are having trouble finding decent properties. We’ve adapted by looking for listings that may not be on the market yet, but it is still difficult to find the perfect home. That being said, media hype and higher interest rates have pushed some buyers out of the market. If you’re looking to buy, this is great news. You’ll have less competition, so when you’ve finally found your dream home, you won’t have to compete with 20 other buyers for it. 

Meanwhile, sellers shouldn’t get discouraged. Prices won’t drop anytime soon, so now is still a fantastic time to list your home. We expect houses to stay on the market for a few weeks instead of a couple of days, but you can still get a fantastic deal. 

If you are looking to buy or sell, please call or email us with any questions. We look forward to hearing from you!

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