Is this a Market Correction or is a Recession truly on the Horizon?

By
Real Estate Agent with Future Homes & Real Estate B.R.E. License #1061646

Not all areas will be hit as hard as others-when it comes to the subject of the day...Is this a Market Correction, or is a Recession truly on the Horizon?

 

The top news stories start with the word “RECESSION” lately…well, not today-Today, the top news is whether or not our President can ride a bike! Ha 😊 And, apparently the answer is Nooooo—Now onto this conversation of a looming Recession in the housing market in 2022.

Seriously folks-nothing happening in our market today is anything like it was prior to 2010…let alone into 2012.  This is not where the market is headed-please talk to a Professional, before you take yourself out of the market-even if that Professional isn’t me…

Wendi-Mae Video Part 1 on Recession? of 2022

KEEP IN MIND WHEN YOU LISTEN TO THE NEWS-SOME OF IT IS HYPE, a lot of it is Nationwide, NOT about your Local marketplace-and that makes a difference-Keep in mind when the subject is about a recession...SOME AREAS WILL NOT BE “HIT” AS HARD AS OTHERS…and that would be our Tri-County Area.

Other parts of California-and some of the other States—May see more of a “slow down”…Again, check with someone in your local market to get the right information, that you need, to make an educated decision by.

It is important to consider/keep in mind, two primary points-When thinking of buying or selling a home—

#1 our Tri-County Area (El Dorado/Placer/Sac) is one of the most desirable and highly sought-after parts of California, partially due to the fact that we live in the most affordable area of the State-that isn’t desert land.

#2 The Tri-County area STILL cannot keep up with the demand of its housing stock.

And, actually, there is a third point~

#3 IT IS ALWAYS A GOOD TIME TO BUY A HOME IN CALIFORNIA.  Period.

This, I would say, whether I had been a Realtor for 34 years, or not.  This is not a sales pitch-it is a Reality Check.

I have seen the "ebb & flow" of our marketplace, for more than 3 decades-

My best advice, again, is-before you let fear take you out of the market-talk to a Professional.   Keep in mind, all the positives of homeownership…the tax deductions that come along with it, no one will be kicking you out of their home, because they have decided to sell-or raise your rent AGAIN-and by several hundred-And...there is a lot of pride that goes along with home ownership….it does make a difference to own “a piece of the rock”, perse’ 😊

The market went into “Overdrive” in 2020-Now we are simply shifting to a “Normal” market-this is a good thing-It is NOT "Dooms Day" folks. 

Sellers just need to be more realistic with their list prices-the reason why homes are sitting longer and there are price reductions today-that we weren’t seeing in months past-is because some Home Sellers start out too aggressive, from day one-This does not mean our market is falling apart.

Let’s talk! 916-616-0874

Posted by

 

 

Wendi-Mae Davis, CRS, GRI

Broker Associate/Real Estate Counselor

Future Homes & Real Estate

WendiMae.com 

916-616-0874

If you need a Miracle...Be a Miracle!

Exceeding Expectations, that is what I do.

Begin each day as though it were on purpose... 

 

 

 

Comments (6)

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Good info and perspectives.

We're in both, a real estate correction and a coming recession by Q3, according to Dr. Lawrence Yun Chief Economist, NAR.

Jun 28, 2022 06:37 PM
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Wendi-Mae, what a well written article.  Glad to see you are back blogging again.  I know you are an experienced in this industry, so I treasure your observations.

Jun 28, 2022 07:57 PM
Paddy Deighan MBA JD PhD
http://irstaxdebt.pro - Vail, CO
Paddy Deighan J.D. Ph.D

by definition, we are likely on the precipice of a recession and we will know in a week...however this does not mean that all real estate or most real estate will drop in value...well prices quality  real estate always finds a buyer

Jun 28, 2022 08:34 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

The market is different not only nationally but can vary within a mile or two of a subject home!  Whatever happens, we've been through this before and have to adjust

Jun 29, 2022 09:35 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Every area will be affected somewhat. It's not a time to panic. Just connect with an experienced Local Realtor and ask how things are going in your area.  Stay in the game, but be smart. Do your due diligent research before you buy.

Jun 29, 2022 03:38 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

I hear ya!  You have a valid point about demand vs. the expectation of a recession.  Our demand here in Scottsdale is also very high.  There may be ripple effects. 

Jun 30, 2022 08:00 AM