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Video Transcript Below
Housing Market Is Shifting, How Is It Impacting The Value Of Your Home?
Interest rates are on the rise, and the market is shifting quickly! Buyers are leaving the market, and sellers are coming into it. How is this impacting the value of your home? Hi, I’m Tristan Colborg, The Denver Real Estate Agent. Let’s look at what experts are saying about how home prices and home appreciation will behave in the coming years.
The biggest thing I want everyone to hear is that experts are not saying that the market will crash. Again, this is not going to be 2008. Realtor.com says, “…Experts don’t believe the market is in a bubble or a crash is in the cards, like during The Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.” Like any other market, the housing market is all about supply and demand. With the largest generation entering the housing market, creating huge demand, and not enough homes available to keep supply up, we are still waiting for the market to even out, but we are not waiting for it to crash.
“…Experts don’t believe the market is in a bubble or a crash is in the cards, like during The Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”
The interest rate hikes have also aided in the market normalizing, which may seem all doom and gloom. Still, if you compare it to how hard it was for the average buyer to even get into a home with all of the competition last year and the crazy offers above the asking price, it’s not as bad as the news makes it seem.
Reach out to my team and let us help you navigate the shifting market and the best decision for you to make with your home. I’m Tristan Colborg, The Denver Real Estate Agent with eXp Realty in Denver. And remember, you deserve an elevated real estate experience.
