While some experts predict a crash, others aren’t so sure.
Should you buy a house now or wait for the housing crash that some say is coming? No one knows for sure. All we can do is do our research, but the problem with that is if you look out there, you’ll find experts say the market is definitely going to go down by 10% or 20%. You can also find experts who say the market’s definitely going to go up by 10% or 20%. And, of course, experts in the middle say it won’t change much at all, that we’re in a good balance of demand and supply.
“Should you wait for the housing crash that some say is coming?”
What is the answer? We don’t know for sure, and I want to remind you that real estate is local. What we see here in Texas may be very different from what other parts of the country see. In Texas, there is still a huge demand to buy homes. I don’t believe prices will drop by 20% or 30% — not in Texas. Will they go down some? Possibly, but what we see more of is buyers that had given up last year when they had to pay so much over asking price to have a chance to win a bid are coming back into the market now because they still need a house.
Hopefully, this helped to answer the question of whether or not you should buy in the current market. Remember, if you have any questions about this topic or real estate in general, please feel free to reach out to me by phone or email. I would be happy to serve as your resource for all of your real estate needs.
