This seems to be a HOT question these days.
Last Monday the National Bureau of Economic Research announced the US economy is officially in a recession. The Coronavirus pandemic is the leading factor of this recession, as the entire country was ordered to shut down. Some are questioning if we will see a housing crash like we did in 2008.
Here are 4 differences from what we experienced in 2008:
1. Families have far more equity in their homes.
2. There is a shortage of inventory, not a surplus.
3. Irresponsible lending is a thing of the past.
4. Home values are steady and appreciation is not out of control.
So even though we are in a recession, the housing market is far more stable to weather the storm then in 2008. If you want to discuss what your options are in this market, reach out to me so we can customize a strategy that moves you closer to your real estate goals.