Watch the video to learn more!
There has been a lot of talk recently about a real estate market correction. Some people are saying that due to inflation, the rise in interest rates, gas prices and other consumer goods that the market is due for a big fall. However, we don’t believe this to be the case. In this video, we will explain why we think the real estate market is still thriving, and why it isn’t likely to correct anytime soon.
What is a Real Estate Market Correction?
A real estate market correction is defined as a reduction in the value of real estate prices for a sustained period of time. This typically happens when there is an oversupply of homes on the market, and buyers are no longer willing to pay the high prices that sellers are asking. A market correction can also happen when interest rates rise, making it more expensive for buyers to purchase a home. In some cases, a market correction can lead to a real estate market crash, which is defined as a rapid and drastic reduction in real estate values. However, not all real estate market corrections end in a crash. Sometimes, prices will simply stabilize at a lower level, until the market conditions improve.