HOUSING MARKET REMAINS STABLE DESPITE RECESSION PREDICTIONS
By RISMedia Staff
August 19, 2022
The current housing market is hot with high home prices and high demand. Despite these market conditions, whispers of a recession have been attracting the attention of buyers and sellers across the country. People want to know if an economic recession will impact the housing market in 2022. Here, we’ll explore what you need to know about the impact of these economic conditions, specifically on the housing market.
What is a recession?
A recession occurs when there is less trade and economic growth. This happens naturally in global markets. A significant recession occurred around 2008, which had a devastating impact on the housing market. As a result, many potential buyers and sellers are wary about future recessions.
However, real estate agents and their clients should note that even though economists have predicted an impending recession, many believe it will have little impact on the housing market this time around. Here’s why.
Increased housing demand
Those interested in the real estate market should take into consideration the fact that the demand for housing continues to rise, despite other indicators of an economic recession. This will help keep the market strong. Before the 2008 recession, it was commonly understood that a recession in the overall economy did not necessarily correlate exactly with a recession in housing. Read More
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