Many people are asking me if they should delay their homeownership plans if there is a recession looming… here is my reasoning for why no one should be afraid of what a recession means for our housing market today.
Home prices don’t fall every time there is a recession – in fact, home prices actually appreciated during four of the last six recessions. The economy slowing down doesn’t mean that real estate values automatically will fall. Another fact that most people are not aware of is that in the past 5 recessions, mortgage rates have decreased an average of 1.8%. History doesn’t always repeat itself, but the historical data is comforting in that respect.
We all still remember what happened in 2008, and many of us are still having nightmares about it. But the fact pattern is very different this time than it was in 2008, and we are not heading down the same path. For most people, it’s not beneficial at this time to postpone buying or selling a home.
Whether buying or selling, I’m here to assist you with your real estate needs. I can help you determine your options, so that you can make the best decision for YOU in the current market conditions. My office is open 7 days a week, and I am looking forward to hearing from you. Let’s connect to review what’s happening in the housing market and what that means for your own homeownership goals.
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR