The Housing Market Today Isn’t Like 15 Years Ago

There’s no doubt that today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities between what is happening now and the last housing cycle, there are also significant differences.

In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:

Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago.

There’s Opportunity in Real Estate Today

And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now. According to David Stevens, former Assistant Secretary of Housing:

“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”

BOTTOM LINE

Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer right now, this may be the chance you’ve been waiting for.

Remember that we can also do financing, and we have access to several banks that will provide many types of loans for you.

We can prepare the Pre-Qualification letter or obtain the Pre-Approval letter directly from the bank, facilitating your purchasing process.

Do you want to know more?
LET’S TALK ABOUT IT.
 
We have wonderful opportunities for you.
BUY & SELL WITH CONFIDENCE.
 
Call/Text   1 (954) 809-5318

[email protected]

Helena Grossberg NMLS# 2136951
Innovative Mortgage NMLS# 250769

 

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So. Florida: Closed Sales, Average Prices, Inventory, and Time to Close:

November 2022:    Broward     |     Miami-Dade     |     Palm Beach     |     St. Lucie

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