The latest conjecture from our news media seems to have started a bit of 'alarm' in a lot of real estate markets across the country. Buyers who were anxiously awaiting the perfect home to hit the market are hedging a bit, primarily in fear of what the real estate market will do. Are we headed towards the dreaded 'R' in our nation? As you've probably noted in the last several articles I've shared here as I review every aspect of the data, the news is truly only conjecture.
Are we headed for a correction or a recession? Of course, we always are - they are a fact of any economy! They are vastly different when they do occur and the 'cause' is as well. The problem with lumping all financials into one theory is that they don't go hand-in-hand in every single recession.
For example, let’s compare the dot-com recession of 2000 with The Great Recession of 2008. Home values fell 19.7% during the 2008 recession, which happened to be caused by a mortgage meltdown. However, during the dot-com crash/recession in 2000, stock prices fell almost 25% but, home values appreciated 6.6%.
Now, how is the current real estate market? Let’s take a look at the infographic of 6 Graphs demonstrating that the market is STRONG:
*Thanks to KCM for providing the above graphic.
- Staying abreast of the current housing market conditions is one of the best ways to make educated and confident decisions when it comes to buying or selling a home.
- With mortgage rates remaining near historic lows and houses selling in a national average of only 29 days, two key components in real estate sales are healthy and continue driving the strength of today’s market.
- While national data is shown above, it is imperative that you have a full understanding of your local market so you are fully informed when you’re ready to make your next move.
- If you’re thinking of making a move soon, let’s talk. I live and breathe our local real estate market and am only a phone call or text away! I can be reached at (704) 491-3310.
READ MORE about our current state of the real estate market in Charlotte
Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | How is the Current Real Estate Market? Here are 6 Graphs Demonstrating that the Market is STRONG [INFOGRAPHIC]