While the housing market rebounded in early 2022, now there is a lot of uncertainty. This means that buyers should tread carefully when entering the real estate market. One way to do this is by paying close attention to bearish trends- which you can certainly now no matter what the government claims about “not inevitable recession” especially since food, fuel, and housing are excluded from the typical index to measure recession.
If It Looks Like A Bear Market In Housing
All the political games aside, it’s beginning to look a lot like 2007 and 2008 and the musical chairs effect of builders being caught in the crosshairs of supply disruptions and increased cost of materials, and slow-down of home sales as interest rates have skyrocketed, if this market were Kansas weather, you’d be getting ready to head to the tornado shelter.
Some economists are predicting that there will be a massive recession in 2022. It’s only a prediction if you refuse to acknowledge some of the most important factors in determining a recession just like economists are doing along with the government, pretending that something isn’t a cost factor in the average American’s budget when it absolutely is.
Is It A Bear Or Not? – Oh Come On! Of Course, It’s A Bear!
And as a Realtor, you need to be ready for a massive market correction- like yesterday.
If, I mean when this happens, it’s likely, I mean it’s assured, that the housing market will once again be severely impacted.
This is something that buyers need to be prepared for.
This is something that sellers need to be prepared for.
This is something agents need to be prepared for.
In addition, interest rates could still rise even more in 2022. Sub 3% rates are gone like memories of warm summer days in January. This makes it more difficult than any time in the last decade for buyers to afford a home. As such, it’s important to consider all of your options before entering the market.
Don’t Let The Prices Fool You
Yes, prices are up 30% over last year in many real estate markets. It’s just a bigger bear but the barometer is inventory. There are a lot fewer homes and a lot less that are within buyers’ sticker shock tolerance.
Get A Seasoned Agent & Be One
If you’re thinking of buying a home in 2022, make sure to do your research and consult with a financial advisor. This way, you can be sure that you’re making the best decision for your situation. If you’re thinking of buying a home. If you’re thinking of selling a home, you should also be careful. You might not be able to afford the home you want to move into for some time. But if you’re willing to rent for a while, you might find some great opportunities in 2023 as prices tumble in the real estate market nearly everywhere in the country.
As a real estate agent, you can no longer afford to depend on a robust market to get you through and keep you successful. You’re going to have to employ every strategy at your disposal in digital marketing including SEO. Contact me for help with that. We can look at your market together and find what will work to reach the right kind of clients- sellers and buyers, as this market turns in its tracks.