Are We Due for a Market Shift?

Many real estate experts expect a shift to take place in the market over the next one to two years that will represent a downturn.

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A few weeks ago, I was honored to participate in a panel of real estate professionals and speak in front of about 100 other local Realtors. During that conversation, we were asked questions about the shift in the market that many experts are predicting over the next one to two years. 

Most predictions say that this shift will be another downturn in the market. My opinion is that it will not affect our general market area. Why?

On a macroeconomic national level, the shift applies to areas that have experienced appreciation, more inventory movement, or low inventory. We’re not having any of those problems here. 

Just like every other month, I expect our market to remain flat. The one thing I want to caution you about regarding the shift, however, is how it impacts the perception of buyers on a national level. Buyers are going to come into the market reading national publications and watching the national news thinking that our market is down as well. Therefore, they might try to lowball the sellers in our area. We have to combat that with hard statistics. Make sure your agent is educated and is educating you on what the data truly says. Don’t let perception become reality. If you have any more questions about the market or are interested in buying or selling, please feel free to give me a call or send me an email. I look forward to hearing from you!