The below post is a transcription from one of our recent videos. We have added additional information about the topic as well as additional graphics and resources. We hope you find this information helpful, and if there is a real estate topic you would like us to cover, please reach out! We love helping provide Real Estate information for the Denver metro area, which helps our real estate clients and anyone who could use the help.
Video Transcript Below
Are We In A Recession?
There is no doubt that many people are concerned about the economy. According to The Wall Street Journal, three-quarters of CEOs worldwide think we’re in a recession or will be within 12-18 months. There’s no doubt this can affect the real estate market, and we’re already seeing it shift. Homes aren’t flying off of the shelf anymore! We’re not seeing bidding wars, and as rates keep going up, buyers have less buying power and aren’t sure what to do. Let’s look at what the real estate experts and advisors have to say.
Mortgage Rates And Recessions
Hi, I’m Tristan Colborg, The Denver Real Estate Agent, and my goal is to help you navigate this ever-changing market. In this video, we are looking at how mortgage rates have behaved over the last 40 years during times of recession. While there is no way to know how the market will behave and what will happen, it’s still good to reflect on how past recessions have historically affected the real estate market.
Over the last 40 years, you can see that mortgage rates have fallen during recession times, an average of 1.8 percentage points from a peak over the last 5 recessions.
History also tells us that recessions do not automatically mean we will see a housing crisis.
So when you’re thinking about your next real estate move, remember that recession doesn’t mean the 2008 housing crisis, and we can still help give you an excellent real estate experience even in this market. Reach out to me to find out what the buying or selling process would look like for you. I’m Tristan Colborg The Denver Real Estate Agent, with eXp Realty, and remember, you deserve an elevated real estate experience.