There’s a lot of talk about a recession lately and how the odds of one are rising. If you’re wondering what that means for the housing market, here’s what the data tells us.
While you may remember what happened in 2008, that’s not the norm. Price only declined one time in the last 6 recessions. However, in every recession since 1980, mortgage rates have come down.
Looking at the last six recessions back to 1980, home prices actually usually rise and mortgage rates tend to fall. If you have questions about buying or selling a home in today’s market, let’s have a conversation.
