You’re wondering if we are going to see a market correction? This question is being pondered by many experts right now, so let me tell you what they have to say.
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station. I know that the future of the market will influence your decision about buying and selling real estate, so I am here to bring you information from the experts.
Let me explain exactly what a market correction is. To have a market correction we must see a decline of 10% or greater in the prices of either a security asset or financial market.
Headlines are saying a lot of things about the real estate market that may cause you concern and confusion, but ultimately, no, we are not seeing a market correction. You are right in seeing a change of some kind.
Danielle Hale from Realtor.com says, “The housing market is at a turning point. We’re at a turning point. We’re starting to see signs of a new direction, but the ball is still in the sellers’ courts in most housing markets.”
Generally speaking we are still seeing a sellers market, they do still have control. But with the last two years being market anomalies, we are interested to see where the
market is going. And we will talk about what experts have to say about that in our next video.
I’m your Community Market Leader Sherri Echols, a helping hand for a happy home.
