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Is the Recession going to Cause a Housing Crash?

July 26,2022 | Posted By Dinorah Carmenate in re
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This article will be filled with quotes because the different experts are saying what I have been saying for the past year regarding a real estate crash.

First Quote: “Don't expect home prices to crash during the next recession the way they typically do in a downturn”.

Second Quote: “Historically, higher housing costs have lowered demand, eventually bringing prices back to earth. However, the real estate market's current lack of supply is keeping prices high — even as buyer demand wanes”.

Third Quote: "Home prices will decline year over year if there's a recession (we are already in a recession), and they'll decline from their peak even if we don't enter a recession.”

This is a great article and I would encourage you to read it to understand more fully why each “expert” is saying what they are saying.

I will say the sales have gone done drastically, we are not getting as many offers for each listed property and prices are selling close to list price or slightly above.

If you or anyone you know wishes to buy, sell or refinance, call me.

Read Article Here
Source: Business Insider

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