Real Estate Market update – July 2022 – Central MN #3
The question I get asked every single day: Are we gonna see a market correction or a crash? Now this is great question but question is being pondered by many experts out there right now. So let’s take a look at what they have to say.
Hi, I’m Paula Quinn with RE/MAX Central and I know that the future of the market will play a big role in your decision about selling or buying your home, so I’m here to bring you information from the experts. First off, to have a market correction, we must see a decline of 10% or greater in the prices of either a security asset or financial market. Headlines are saying a lot of things about the market that causes concern and confusion, but ultimately, no, we are not seeing a market correction. But, I am seeing changes in the market which is completely normal.
Danielle Hale from Realtor.com says, “The housing market is at a turning point. We’re at a turning point. We’re starting to see signs of a new direction, but the ball is still in the sellers’ court in most housing markets.” Including ours. Generally speaking, I’m still seeing a sellers market here locally, where sellers still have more control. But with the last two years being market anomalies, we’re all interested to see where the market’s going next. I will talk about what experts have to say about that in my next video.
I’m Paula Quinn with RE/MAX Central help you with your buying and selling needs. And remember, I want you to love where you live.