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The Scary "R" Word
More and more we hear talk in the news about an upcoming recession. The "R" word is creating insecurity, and clients are increasingly asking my opinion on where the market is headed and what is to come.
I'm not an economist people! I'm a Realtor! Even if I were an economist, most of them don't have a stellar track record on forecasting a market down-turn. I don't have any economic insider knowledge. I don't know if prices will remain the same, and don't know when they will go down. If I could predict the future, I could be making much more money outside of real estate. What I can show my clients are the current and past housing market statistics for our area. They will show a trendline that may continue in the same path, or may turn at any moment.
This is how the market in our neck of the woods has behaved over the recent years.
 
 
How do we know when the market has reached its peak?
Once it goes down.
 
While I can't be helpful in telling you ahead of time when the market will take a turn, I'll gladly share my insights into what I've learned the last time our housing market took ... more

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