Industry advisors such as property appraisal Volusia County-based, cannot see the future. Even without a crystal ball, many real estate investors and advisors are wondering if the U.S. real estate market will rise or fall in the near term. Experts have been asking this question since December 2021.
Similar to ongoing increases in inflation that may or may not dissipate in the near future, the consensus on housing price trends is mixed. When even professional market watchers can’t agree, it can be difficult for consumers to feel confident in their long-range financial planning. In order to feel more confident, it’s important to take in differing viewpoints.
Have we already seen the peak in real estate?
The answer to this question is maybe. Or, it depends. Factors such as the location of the real estate and the health of the local market play a big role in giving an accurate answer to this question. For some homeowners whose market area did not experience a huge rise in value in their market area, the ride back down won’t be as severe or difficult as those in more frothy markets.
Taking a long view when it comes to real estate is often the wisest course, as there is often some type of leveling out over long periods, such as a decade. Most real estate slumps or booms level off within a ten-year period, and it will be interesting to see if this holds true in the near future.
Consumers buying their home as their primary residence have the added benefit of relying upon it less as an asset. This can make weathering the peaks and valleys a lot less stressful. Real estate investors understand the fluctuations that occur in the market and are well-prepared for drastic changes.
