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Hey there!
Recession talk is everywhere right now. With experts saying the odds of one are rising, you might be wondering what that means for the housing market and your moving plans.
Here’s what historical data tells us:
Many assume home prices will crash like in 2008, but that was an exception, not the rule.
In most recessions, home prices actually increased because they tend to follow their existing trajectory. Right now, prices are still rising nationally.
While home prices typically hold steady during economic slowdowns, mortgage rates often drop. In fact, during the last six recessions, rates declined every single time.
I know talk of a recession can create uncertainty, but history gives us insight into what usually happens in the housing market.
Does the possibility of a recession make you hesitant about buying or selling a home? What questions do you have? Drop them in the comments or DM me directly!