Our Market Is Balancing Out, Not Crashing
A market returning to a stable state does not mean that it’s crashing.
Today, I want to talk about a topic that I'm getting a ton of questions about: Are we in a housing bubble, and is the housing market going to crash? I don't have a crystal ball, but no, our market is just stabilizing.
The last year or two has been an incredibly heated real estate market with properties flying off the shelf at $50,000 to $100,000 over list price. However, right now interest rates are jumping up a little bit. If you look at historical precedent, the market's just normalizing because houses are still appreciating. When you take all of today's market trends into account, you can see that it's balancing out?
"Our market is just stabilizing."
We're seeing more homeowners putting their houses on the market now. Schools are back in place so people are settling. When interest rates jumped up in June, that was a shock and the market reacted in a shocking way. However, people that are getting information on their local real estate market are understanding that the normalizing of the market is better for everybody in the long run.
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