3 Myths About Today’s Housing Market

Ready to Make a Move This Fall? Don’t Let the Debbie Downers Stop You!
Get the facts about the current market and move forward with confidence. Say goodbye to old rumors and uncertainty.

Myth #1: Owners with super low rates will never sell.
Fact: While it’s true that many homeowners locked in low rates several years ago, life happens, and people will always need to sell their homes.
Families grow. Empty nesters downsize. People relocate. Retirement draws near. And many of them have homes to sell.

Myth #2: As interest rates increase, prices will decline.
Fact: While we’ve all hoped for lower interest rates to make home prices more affordable, there’s another factor contributing to the rise in prices – limited inventory. The combination of high demand and limited supply keeps prices competitive!

Myth #3: The housing market will crash like in 2008.
Fact: The 2008 crash happened due to faulty mortgages and buyers overextending themselves financially. Fortunately, significant changes have occurred since then.

Lenders these days are a bit stricter, but don’t worry! Homeowners today are sitting on an average equity of over $274,000 in their homes, giving them that extra financial peace of mind when purchasing. It’s a whole new era, my friends!

Housing myths may come and go, but finding a home that fully meets your needs is truly priceless. If you’re ready to explore the possibilities, don’t hesitate to reach out—I’m here to help in any way I can!

Source: Homeowner Equity Data And Statistics | Bankrate.

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