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Are We In A Real Estate Market Crash or Correction?

Monday, June 13, 2022   /   by Julie Winter-Paez

Are We In A Real Estate Market Crash or Correction?




Are you feeling like the market is about to crash or Northern Wisconsin Real Estate is going into a "correction"? The answer is NO. A housing correction is a decline of 10% or greater in the price of a security asset or a financial market. We are not anywhere near that in 2022, but the housing market will remain strong. And remember, recessions are generally positive for the housing market.

As everything goes up, so does the price of one of your most valuable assets, your home. The market is shifting and changing, but what does that mean? That means that opportunity is going to be had for buyers and opportunity is going to be had for sellers. Especially if you're a seller who is looking to sell and buy at the same time and fear has been your factor. As the market shifts, you might find an opportunity as a buyer so that you can finally feel confident in selling your home. As a buyer, you might finally start to have some options.

Just a couple more stats, existing home sales may start to decline over 2021, but let's remember 2021 was record breaking. In 2018, 5.3 million in houses and in April of 2022 at 5.6 million. So we are still strong. It is still a great market.

If you have questions, give me a call. I would love to help guide you through the process.






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