Slump or Boom
Potential buyers are worried that the market will drop. Should they hold off buying for now? Here’s the outlook:
The housing market has entered a down cycle, but is not expected to continue on this trend to any devastating level. The market is facing a moderate slump due to risks such as interest rates, expanding inventories, and decreasing affordability. However, aside from the natural population increase, several factors suggest that the future of housing will be strong. Changes in demographics and population growth will contribute to maintaining the health of housing demand and prices.
By Nicole Reyes