Keep Calm And Buy/Sell In Today's Wild And Crazy Market

By
Real Estate Agent with Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) 629265000 & 7238507

Keep Calm And Buy/Sell In Today's Wild And Crazy Market

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form, and I can see why… Something has to give, right? The market is unprecedented, crazy, and wild.

However, this market is VERY different than it was during the housing crash 15 years ago.

One of the most obvious differences is the number of homeowners that were facing foreclosure after the housing bubble burst.

The Federal Reserve issued a report showing the number of consumers with a new foreclosure notice, and this graph displays those numbers during the crash compared to today.

There’s no doubt the 2020 and 2021 numbers are impacted by the forbearance program.

However, there are fewer than 800,000 homeowners remaining in that program and most will be able to work out repayment plans with the banks.

Unlike the bubble in 2008, there are true market factors driving up pricing - namely supply and demand. Until housing supply in Phoenix reaches about 15,000+ homes on the market (currrenly at around 4,000-5,000) prices will still continue to rise. Interest rates are expected to influence housing prices by decreasing demand for new mortgages, but not enough to slow down rising prices in 2022.

#poweredbyplace #kw #azrealtor #kellerwilliamsrealtyeastvalley

 

 

Get Your Home Sold With The Shanna Day Team Beautify/Ready To Sell Program!

 

Is Your Home Worth More Than You Think?
 

Click here to view all of the Shanna Day Team Featured Listings

 

FUTURE QUESTIONS

If you have any topics or questions you would like answered, contact The Shanna Day Dream Home Team - we’ll find the answers for you!

 

Shanna Day Dream Home Team

Keller Williams Realty East Valley

480-415-7616

info@shannaday.com

ShannaDayTeam.com

EastValleyPropertyValues.com

View ShannaDay Dream Team Profile

 

 

 

Keep Calm And Buy/Sell In Today's Wild And Crazy Market

 

Posted by

Shanna Day Dream Home Team

https://plus.google.com/112829348058511259992

 

Comments (0)