Talks about a stock market correction could be coming. [In fact, as I write this article the DOW is seeing a nearly 300 point drop in response to the perception that it has hit its peak]. The question arises though, what does this mean for the Real Estate market?
When it comes to the housing market, everyone knows that with seasonality things boom in Spring and lull in the Winter. There is one aspect of seasonality that unfortunately gets ignored each and every year, by sellers and agents alike, that ends up costing them thousands; and right now is the time of year when this mistake begins to cause headaches. People call it the “dog days of summer” but fail to understand one of the largest contributors to this phenomenon...
It’s been about 10 years since the housing crash and things are starting to look familiar. While there is a lot of good signs that the market is solid, there is also some data that is strikingly close to the times leading up to the crash. Should you be worried or are things expected to just get better?
The spring market is upon us and things aren’t just picking up in the DMV, but around the nation as well. Home prices are rising to such an extent that they are now 6% higher than the they were at the peak before the housing crisis in 2006. This brings up the question, what is causing it and what could this mean for the coming months and years?