We’re seeing a cooling of the housing market, but not a crash :)

By
Real Estate Agent with Allison James Elite CA. BRE 01501699
https://activerain.com/droplet/5hRS

 

Homebuyers Shouldn’t Worry About 2008 All Over Again

Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.

Two major takeaways from the survey:

  • 42% believe a recession will occur this year or next (another 16% said 2021)
  • 59% believe the housing market would fare the same or worse than it did in 2008

Why all the talk about a recession recently?

Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:

  1. The Pulsenomics Survey of Market Analysts
  2. The Wall Street Journal Survey of Economists
  3. The Duke University Survey of American CFOs
  4. The National Association of Business Economics

70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021.

However, we must realize that a recession does not mean we will experience another housing crash. According to the dictionary definition, a recession is:

“A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”

During the last recession, a dramatic fall in home values helped cause it.

However, according to research done by CoreLogic, home values weren’t negatively impacted as they were in 2008 during the previous four recessions:

Homebuyers Shouldn’t Worry About 2008 All Over Again | MyKCM

During the four recessions prior to 2008, home values depreciated only once (at a level that was less than 2%). The other three times home values appreciated, twice well above the historic norm of 3.6%.

Bottom Line

If there is an economic slowdown in our near future, there is no need for fear to set in. Most experts agree with Ralph McLaughlin, CoreLogic’s Deputy Chief Economist, who recently explained that there’s no reason to panic right now, even if we may be headed for a recession.

“We’re seeing a cooling of the housing market, but nothing that indicates a crash.”

About Me

My photo
 
 

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What's Your Home Worth?

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Posted by

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
California Ventura County
Tags:
timetobuy firsttimehomebuyers moveuphomebuyers 5starrealtor hyperlocal chrisbjohnsonrealtor topproducer flipandfix realestateinvestor rentalproperties

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
693,313
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great post and information to read. Thanks for sharing, I hope you have a great afternoon.

Apr 02, 2019 09:49 AM #1
Rainmaker
587,666
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity

https://chrisbjohnsonrealtorluxuryhomes.blogspot.com/2019/04/were-seeing-cooling-of-housing-market.html

https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/

#ChrisBJohnsonRealtor

https://chrisbjohnsonrealtor.allisonjamesinc.com/ask/f3dbcb3921f86f5ee5557c696489bc96

5 Star Rated REALTOR #ChrisBJohnsonREALTOR

https://youtu.be/p4-VfR1DJNA

Sell Your Home For More and Pay Less Using A 5 Star Rated Realtor

https://youtu.be/CRCXLh4EycU

https://biteable.com/watch/sell-for-more-pay-less-chrisbjohnsonrealtor-1959786/afffdc699004f8b15891489c4de17b4cbd4e3a75

https://biteable.com/watch/xome-super-seller-1954842

https://www.ratemyagent.com/real-estate-agent/chris-b-johnson-xu316/reviews

http://www.VCNeighborhoodValues.com

http://www.ChrisBJohnsonRealtor.AllisonJamesInc.com/blog.php

http://www.ChrisBJohnsonRealtor.AllisonJamesInc.com/

http://my.flexmls.com/ChrisBJohnsonRealtor               IDX

https://www.xome.com/auctions/agent-listings/Chris-Johnson/11009531

https://www.idealestate.co/profile/76080/profile

https://drive.google.com/file/d/0Bzia-m_p1JFMMVMzSGZFdmNYV28/view?usp=sharing

https://www.simplifyingthemarket.com/en/?a=97822-26df5ea08f8689012df0225866ae0bf1

https://www.linkedin.com/today/author/chrisbjohnson

https://www.linkedin.com/in/chrisbjohnson/detail/recent-activity/posts/

https://www.linkedin.com/pro/chrisbjohnson

http://www.linkedin.com/in/chrisbjohnson

https://activerain.com/profile/chrisbjohnson

https://activerain.com/blogs/chrisbjohnson

https://www.youtube.com/c/ChrisBJohnsonRealtor

http://chrisbjohnsonrealtorluxuryhomes.blogspot.com/

http://www.google.com/+ChrisBJohnsonRealtor

http://www.google.com/+ChrisBJohnsonRealtorMoorpark

http://www.google.com/+ChrisbjohnsonrealtorMoorparkShortSaleRealtor

https://moorpark-short-sale-specialist.business.site

https://chris-b-johnson-realtor.business.site/

http://www.facebook.com/ChrisBJohnsonRealtor

http://www.ChrisBJohnsonRealtor.com

http://www.twitter.com/CBJRealtor

https://www.pinterest.com/chrisbjohnsonre/

https://www.instagram.com/chrisbjohnsonrealtor/

https://search.google.com/local/posts?q=Moorpark+Short+Sale+Specialist&ludocid=5817891684567616689#lkt=LocalPoiPosts&lpstate=pid:249604486823837412&trex=m_t:lcl_akp,rc_f:nav,rc_ludocids:5817891684567616689

https://www.google.com/search?q=Chris+B+Johnson+Realtor&ludocid=5798838494712077139&_ga=2.159473401.537763112.1546635339-659962020.1513365692#lkt=LocalPoiPosts&trex=m_t:lcl_akp,rc_f:nav,rc_ludocids:5798838494712077139

Apr 02, 2019 09:51 AM #2
Rainmaker
587,666
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity

Thank you Pat Champion buyers and sellers seem to be a bit nervous not knowing what the future holds, I don't know either so I lean on the experts :)

Apr 02, 2019 09:53 AM #3
Rainmaker
587,666
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity
Ambassador
3,404,885
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

With interest rates not seen this low in over a year homes have become more affordable. I don't think we need to worry about a repeat of 2008 either.

Apr 02, 2019 11:42 AM #5
Rainmaker
587,666
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity

Yes Debe Maxwell, CRS , soft landing, not a nose dive, the sky IS NOT falling :)

Apr 02, 2019 11:49 AM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
587,666

Chris B Johnson REALTOR®

5 Star Rated REALTOR® Quality, Not Quantity
Is it Too Late to Short Sell My Home??
*
*
*
*
Spam prevention

Additional Information