Published April 1, 2022
Why You Shouldn’t Worry About a Crash
Here’s why you shouldn’t worry about a potential market crash.
If you only take one thing away from today’s market update, it’s this: Don’t panic. Soundbites and clickbait may lead you to believe the market will crash any day now, but that just doesn’t reflect the reality on the ground.
It’s true that interest rates have risen above 4%, but we’ve known rates would increase for a long time. They’re rising to combat inflation, and it’s a normal process that has happened before. Meanwhile, prices continue to increase, and supply continues to decrease. Since home prices tend to increase with inflation, it looks like this trend isn’t stopping anytime soon.
“Our market will remain strong for the foreseeable future. ”
What does this mean for buyers? If you want to purchase a home, now is the time to act. Rates are still historically low, but they will likely increase further. Plus, if you buy now, you can take advantage of rising home values and begin building equity.
For sellers, it’s still a fantastic market. Buyers are trying to take advantage of low interest rates while they can, but there are very few homes for sale. If you go on social media, you may see people freaking out about a crash, but don’t listen to them; our market will remain strong for the foreseeable future.
If you want to know what’s really going on in the housing market or have any questions, please call or email us. We’d love to help!
