“. . . the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years.”While a recession may be on the horizon, it won’t be one for the housing market record books like the crash in 2008. What we have to remember is that a recession doesn’t always lead to a housing crisis.
“During a traditional recession, the Fed will usually lower interest rates. This creates an incentive for people to spend money and stimulate the economy. It also typically leads to more affordable mortgage rates, which leads to more opportunity for homebuyers.”This year, mortgage rates have been quite volatile as they’ve responded to high inflation. The 30-year fixed mortgage rate has hovered between roughly 6-7%, and that’s impacted affordability for many potential homebuyers.
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Buying a home is a big decision, and it should be one you feel confident making.
Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home.
Today’s housing market is different than it was in 2008.
Over the past year, home prices have been a widely debated topic.
If you want to sell your house, consider doing it this summer.
Today, the market’s changing, and buyers can usually be more selective and take more time to explore their options.
Providing clients with ultimate bespoke representation, customized marketing strategy, and a culture built on service. Excelling in exceeding expectations for buyers and sellers.