The Selling Frenzy is Coming
Now is the time to get your home ready to sell!
Prior to COVID-19, the housing market showed signs of a hot spring season.The pre-pandemic market strength gives many experts hope that losses are temporary.
The comeback is expected to be quick. With historically low interest rates, home buyers and investors will start buying at the first signs of normality. This will only delay spring purchasing, setting the stage for a frenzy by July.
During four of the last five recessions, home prices continued to increase. The only exception was in 2008; however, this was triggered by real estate itself.
While the housing crisis is still fresh on our mindsm the U.S. housing market has weathered all other recessions since 1890. Traditionally, the housing market was actually aids the economy in recovering from recessions.
What separates the stability of the housing market from other economic indicators like the stock market? It comes down to need. People will always need a place to live.
After regulations lift, there will certainly be hesitant to buyers, but there will also be those patiently waiting to enter the market and take advantage of low interest rates. Life itself is not paused, and large life events haven't stopped.