Hey Chicken Little...the sky isn't falling!

Dated: February 14 2021

Views: 392

Hey Chicken Little...the sky is NOT falling.  Here are some national housing statistics to keep our #funfactFriday going strong.  Everyone seems to be talking about (predicting...whatever) a market crash "on the horizon."  I beg to differ.  Right now (on a national level, and certainly in my local market) we are seeing strong, but only slightly more than average, pricing gains on a year-over-year basis.  In the years preceding our last economic downturn (prior to COVID), the increases in average sales price were nearly double what we are seeing today.  That rapid increase in value was widely attributed to the following massive decline and crash in the overall market.  So, rest assured that even though there are multiple offers and higher prices right now....we are seeing near average and sustainable year-over-year gains. 
The naysayers all claim: "All those people who had COVID related issues and opted for a "forbearance" on their mortgage payments will all default and force another crash."
The experts are claiming: "Nearly 60% will come clean with their payments.  About 24% will look to sell because they cannot sustain that payment any longer. Only a small portion of 18% will be in the unfortunate situation of losing their home due to the pandemic.  This is a tragic amount of families & lives affected by this pandemic; but it is in no way an amount that will topple the real estate market as a whole.  
So, rest assured your asset is very much still...an asset.
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Jenny Jones

"I would love the opportunity to assist with your real estate needs. I'll show you how we became & continue to hold the Top Producing sales position for the ent....

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