Reasons why the market will remain strong.
If you’re waiting for a market “crash” with the hopes of buying a cheaper home, I’ve got bad news for you. Economists and housing experts predict the market will remain strong for a while for several reasons …
✔️ 𝗗𝗲𝗺𝗮𝗻𝗱 𝗶𝘀 𝗛𝗶𝗴𝗵
Simple supply and demand. With the recent shortage of inventory and more buyers in the market than we have seen in years, the pent-up demand for housing is still high.
✔️ 𝗟𝗼𝘄 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆
The severely low supply is also helping fuel demand, and higher home prices, which is another reason why housing experts say the market will remain strong for years to come.
✔️ 𝗧𝗶𝗴𝗵𝘁 𝗟𝗲𝗻𝗱𝗶𝗻𝗴 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀
Unlike the 2008 housing crash, tougher lending standards and updated mortgage regulations mean today’s homeowners are less likely to default on their mortgages. Basically, it’s much harder to get a loan than it was in the early 2000s.
Higher mortgage rates, along with the double-digit price appreciation, have created affordability challenges for many buyers in recent months, which is likely going to slow the market. However, although price growth is likely to slow, prices aren’t likely to decline, so if you’ve been waiting for the “right time” to buy, let’s chat. I would love to help you reach your home buying goals this year!