These are uncertain times, but here are the answers to two important questions you may have regarding our market.

In light of everything that’s going on, it’s time to answer a couple of key questions friends and clients have been asking me:

1. Are we going to see another housing market crash, ala 2008?

No. The coronavirus has caused massive global uncertainty, including a stock market shift no one saw coming. While much of the news coverage has centered around the various markets, let’s acknowledge the true impact on the lives and families of people around the world. 

“When there’s fear in the world, we see lower mortgage rates as investors flee the stock market for the safety of U.S. bonds.”

2. With all of this uncertainty, how do you make a confident and powerful decision regarding your real estate plans?

The National Association of Realtors anticipates that, at the very least, the coronavirus could cause some people to put their home sales on hold. Honestly, I’m not seeing that happening in my area. While holding off on selling your home is an understandable approach, you need to know how it may cost you in the long run. Whether you’re buying or selling, it’s key to educate yourself so you can make a thoughtful, informed step toward your future. 

For example, when there’s fear in the world, we see lower mortgage rates as investors flee the stock market for the safety of U.S. bonds. This connection should be considered when making real estate decisions. Mortgage interest rates seem to be on a roller coaster right now, but rest assured that we’re staying up to date on the latest market changes. 

If you’d like to know more about what’s happening in our market, don’t hesitate to reach out to me. I’m here to help.