Are we in a Real Estate Housing Bubble or is the Housing Market slowdown due to inflation in Metro Detroit MI Sept 2022? Will home prices go down…Let’s find out.
The talk of a housing bubble, Will We See the Housing Market Crash (👈video provided with 20 year graph and trends) in the coming year seems to be at a fever pitch as rising mortgage rates continue to slow down an overheated real estate market. Over the past two years, home prices have appreciated at an unsustainable pace causing many to ask: are things just slowing down, or is a crash coming?
To answer this question, there are two things we want to understand. The first is the reality of the shift in today’s housing market. And the second is what experts are saying about home prices in the coming year.
The Reality of the Shift in Today’s Housing Market
The reality is we’re seeing an inflection point in housing supply and demand. According to realtor.com, active listings have increased more than 26% over last year, while showings from the latest ShowingTime Showing Index have decreased almost 17% from last year (see graph below). This is an inflection point for housing because, over the past two years, we’ve seen a massive amount of demand (showings) and not enough homes available for sale for the number of people that wanted to buy. That caused the market frenzy.
Today, supply and demand look very different, and the market is slowing down from the pace we’ve seen. This offers proof of the sudden slowdown so many people are feeling.
What Experts Are Saying About Home Prices in the Coming Year
Right now, most experts are forecasting home price appreciation in 2023, but at a much slower pace than the last two years. The average of the six forecasters below is for national home prices to appreciate by 2.5% in the coming year. Only one of the six is calling for home price depreciation.
When we look at the shift taking place along with what experts are saying, we can conclude the national real estate market is slowing down but is not a bubble getting ready to burst. This isn’t to say that a few overheated markets won’t experience home price depreciation vs deceleration, but there isn’t a case to be made for a national housing bubble.
Step #1 ~ Live 3-Year Graph for Home Prices and Trends by City
💥 Important 💥 Know Your Numbers…It represents your Money! This is Where You Track Home Prices and Housing Inventory Levels (Supply and Demand) updated monthly by the 15th. You have direct access to all data from the Multiple Listing Service because I programmed it that way 🤩
You don’t need a realtor to access the data. Before you start working through the 5 steps, start with understanding the difference between Price-Driven Approach vs Value-Driven Approach.
I recommend working through each of the 5 Steps
It has everything you need to determine the Market You’re In and review your city’s 3-year live trends regarding home prices. Better yet, you can even review Sold properties and not rely on online estimates. I’ve provided additional videos regarding the housing market and how you can benefit from all the tools on this page. Whether you’re selling or buying real estate now or later. I recommend keeping up to date and protecting your real estate investment. It’s essential to follow the Housing Market Trends for Metro Detroit and know The Market You’re In, and it’s the only way you’ll know your true Negotiation Power.
If you find this information useful, like it and share it with your friends and family.
Step #2 ~ Housing Market Predictions Report for September 2022 eGuide
💥 Important 💥 National Housing Market Trends and Predictions
Both Buyers and Sellers are questioning whether home values will be impacted. So, we’ll review important graphs and trends and future predictions based on those numbers. To keep up to date throughout the month request my Newsletter or circle back to the website upper menu ~ Simplifying Real Estate Blog Post.
Step #3 ~ Your 🔑 To Home Selling and Buying Success ~ Safe e-Guides
💥 Important 💥 Your Guides also have educational videos and links regarding where home prices are heading, mortgage rates, Housing Market Trends, and more.
Watch Video for Sneak Peak
Don’t muddle through the Home Buying and Selling Process. Buying a new home is a dream for all of us, and it’s an emotional and stressful process. It also involves the most significant financial transaction you probably will make in your lifetime.
Get Both Your Home Buying and Selling Guides
Your Buying Guide…will walk you through tips, strategies, and how to understand the numbers to strengthen your negotiation power.
Your Selling Guide…It will help you work through the selling process using the latest in high-tech market tools, so you make MORE Money. Our goal is to separate your home from the competition and keep Buyers focused on your house. The Selling Guide is very detailed and works step-by-step, so you’re guaranteed Top Dollar for your home.
Bottom Line Housing Bubble or Housing Market Slowdown
The real estate market is slowing down, and that’s causing many to fear we’re in a housing bubble. What we’ve experienced in the housing market over the past two years were historic levels of demand and constrained supply. That led to homes going up in value at a record pace. While some overheated markets may experience price depreciation in the short term, according to experts, the national real estate market will appreciate in the coming year.
Simplifying Real Estate Through Education
As we move forward, it’s been challenging as we navigated through all the changes. Take a peek into my crystal ball…review the Housing Market Prediction Report eGuide. Putting your dream of a new home on HOLD shouldn’t be one of them. Now more than ever, knowledge will be your power. Know the Market You’re In and your Negotiation Power. Check out Categories for additional updates regarding the Market | Buying | Selling
If You Need To Sell 1st… I Recommend Doing This for MORE Money!
No 2 homes are alike, and agents need to 🛑 marketing ONE size fits all. We no longer have an exposure problem (internet). Your home is buried on public home search internet sites. The only way to compete on those platforms is the price. If you want more money, you need to apply Influence. Separate your home from the competition, so the Buyer sees value. Keeping them focused on your property and not getting lost in homes’ inaccurate data on public internet sites is necessary. Having digital omnipresence on serval platforms is your key to success. Remember MORE INFLUENCE = MORE 💰. We have details on how you can utilize High Tech Marketing and Win!
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