The Housing Market is NOT crashing
Contrary to popular belief, The Housing Market is NOT Crashing.
I am currently writing this while at the 2023 Elite Retreat Hosted by Real Estate Coach Tom Ferry, learning all about how to best keep Essig Team buyers and sellers well informed on the current state of the housing market.
Look at these slides (See below for Link)… There is not enough inventory and the demand for housing is still high. 67% of American say that a housing market crash is imminent in the next 3 year… But, I said it once and I will say it again: The Housing Market is NOT Crashing.
Think about this: The Feds did their best trying to slow down the housing market by doubling the interest rates, which as we all know have been the highest interest rates we have all seen more than 10 years!
While it did slow us down a little, all it did was postpone SOME of the buyers.
Things to look out for: Owners with historically low interest rates, which I call “The Golden Handcuffs” and which the AVERAGE homeowner holds about 300k in Equity.
What will home owners do with that money? Renovate? Buy a vacation home??? -Alyssia Essig: Essig Team of Compass Team Leader