Why this recession does not spell housing crisis?
Anne Darer • May 9, 2020
Inventory is a key factor.
In 2008 the market was saturated with unsold inventory whereas today there is limited supply of inventory. We are seeing sales volume drop but prices not so much so. Given overall market uncertainty prices may be off by a small percentage in the short term but not by the dramatic percentages seen in the 2008 crisis. For now sellers are holding on pricing. There are a limited number of options on the market. With interest rates at historic lows and a long term view that home values will return and exceed current valuations this may be a good time for qualified home buyers and property investors to buy assuming your hold period is 2-5 years. For sellers, a quality product in this market at a well-positioned price is set to gain attention because inventory is low. We are here for advice on your property goals.
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