R E Pricing Heading Down - Ron DiLalla - Realtor

Real Estate Agent with Century 21 Discovery DRE 01813824

Given all the coverage, if you’re not getting sick from the virus (stay healthy and strong), you’re probably sick of COVID-19 (coronavirus). There’s no doubt that it’s caused no shortage of disruptions to our economy and our lifestyles. However, there are signs that the impact may be somewhat temporary in nature. For evidence of this, one need look no further than the housing market.

If anything is a bellwether of the strengths of the economy, housing is probably a good candidate. The reason is that between construction and spending on supplies and services related to your house, housing’s overall contribution to gross domestic product (GDP) averages between 15% – 18%. GDP is the most widely accepted global metric of economic growth (or lack thereof).

What evidence do we have for this confidence in the housing sector and the fact that it could be the right time to purchase a home if you’re ready? The rest of this article will go into why we have confidence in the housing market at this point and why you should, too!

Comments (0)