- There is plenty of talk in the media about a pending economic slowdown.
- The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
- Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.
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Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.
If you’re dreaming of buying a home this year, start by connecting with a local real estate professional.
With today’s positive equity situation, many homeowners will be able to use a loan modification or refinance to stay in their homes.
With high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms. Why wait until spring?
As many of us spend extra time at home, we’re reevaluating what “home” means and what we may need in one going forward.
Home price appreciation in 2021 will continue to be determined by the imbalance of supply and demand.