What Will a Recession Mean for the Market?

📌 Interest rates continue to rise 📈 while sales units continue to decrease year over year. 📉 However, there's good news!

📌 We are going to see a decrease in interest rates over the next few days & 📉 We are certainly projecting a recession for June and July.

  • A recession will be great for interest rates, but not necessarily great for the buyer.

📌 As interest rates go down, there's going to be an increase of buyers in the market.

  • 📈 With no increase in inventory, we project there to be more competition and higher prices. 💪💲

📌 Great homes are selling over asking, with multiple offers. We're seeing, in some cases, 10 - 20% over asking!

  • 🤯 These are huge numbers on top of already high prices. 💲
  • For the homes that are sitting, it's taking at least one price adjustment to sell that home. 📉
  • You have to be cautious if you're a seller. Many sellers are overpricing their homes and not preparing it for sale. 

📌 It's an overwhelming, fast-moving market, so you have to pay attention and work with a trusted agent.

👍 If you're looking to buy right now, it certainly is a competitive market, and that's why we rolled out www.TGTMatchmaker.com

  • We're focused on matching off-market selling opportunities with off-market buying opportunities to meet buyers' and sellers' needs.

📌 Keep this in mind: it's an incredibly strong seller's market right now, which makes it challenging for many buyers to compete. 💪

  • We don't see this market changing anytime soon because as those interest rates go down and an impending recession, we're going to see more buyers getting back in the market. 

📌 If you have any questions about buying, selling, investing, or if you're interested in an updated home valuation, feel free to reach out!

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