3 Reasons to Take Housing Predictions with a Grain of Salt
At the beginning of the year, it’s common to see articles in magazines, in newspapers and online that offer predictions about the national housing market. These forecasts may provide insight to real estate professionals and interested investors; however, to the average person who’s thinking of buying or selling, the predictions often don’t make a difference in their final decision. Here’s why:
All real estate is local.
What’s going on in the national market may not be an accurate reflection of what’s going
on in our market. If you want to know about our local market and what your home is worth, I’m happy to answer all of your real estate questions.
The future is uncertain.
Experts estimate future market trends based on current statistics and historical trends. In other words, they use past and current data to find clues as to what might happen next. However, national and global events can have an unforeseen impact on the economy,
including the housing market. While experts may predict one thing now, the reality could turn out to be very different.
If you’re ready to buy or sell a home, your decision may rely on factors other than the state of the market.
For example, family changes and job relocations are two of the most common
reasons people move. While it’s smart to consider the state of the market when you’re thinking of buying or selling, in
the end, if you think it’s a good time, then it’s a good time.