Hope Leitner, Realtor®, CRS

  Recession talk is all over the news, and the odds of a recession are rising this year. And that leaves people wondering what would happen to the housing market if we do go into a recession. Let’s take a look at some historical data to show what’s happened in housing for each recession going all the way back to the 1980s. A Recession Doesn’t Mean Home Prices Will Fall Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time we saw such a steep drop in prices. And it hasn’t happened since. In fact, according to data from  CoreLogic , in four of the last six recessions, home prices actually went up ( see graph below ): So, if you’re thinking about buying or selling a home, don’t assume a recession will lead to a crash in home prices. The data simply doesn’t support that idea. Instead, home prices usually follow whatever trajectory they’re already on. And right now, nationally,  ho...

If selling your   house   is on your to-do list this year, the time to   start prepping   is now. That’s because experts say the best week to list your house is coming up fast. A recent  Realtor.com   study  analyzed years of housing market trends (excluding 2020 since it was an outlier) and found that  April 13–19 is expected to be the ideal window to put your house on the market this year: “ . . . we’ve identified April 13-19 as the best week to list for sellers  . . . a seller listing a well-priced, move-in ready home is likely to find success.  Because spring is generally the high season for real estate activity and buyers are more plentiful earlier rather than later in the year, listing earlier in the spring raises a seller’s odds of a successful sale .” What Makes This Week Stand Out? As the quote mentions, spring is almost always a strong season for sellers. But this particular week could give you an even bigger advantage this yea...

  For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now,  inventory  is rising, and things are starting to shift in many areas. So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know. What Makes It a Buyer’s Market or a Seller’s Market? It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately determines who has the most leverage. A Seller’s Market  is when there are more buyers than homes available, so sellers hold the power. This leads to rising prices, multiple offers, and homes selling quickly – often above the asking price – because there isn’t enough to go around. A Buyer’s Market  is when there are more homes than buyers. In this case, the tables turn. Sellers...