Buzz Builds About a Recession
News outlets in nearly every sector continue to predict an economic crash regardless on whether it has anything to do with their typical coverage or not. Arguably, the majority of the coverage focuses on the housing industry. It triggers memories of the previous crash and draws eyeballs.
And... Maybe. But probably not. As the market rushes to straighten out, it can feel a bit scary- but we're just not at an epic housing market crash yet.
For example, the Average Days on Market for homes in our market just increased to 32.2 days. But a balanced market is closer to 120-140 days. So we have a long way to go.
Overall we're still in a holding pattern, waiting to see where the market is going to level out and settle in.
As always, stay tuned to find out!
