July National Market Update #3
Are we getting to see a market correction? This question is being pondered by many experts right now, so let’s take a look at what they have to say.
We know that the future of the market will play a big role in your decision about your home, so I am here to bring you information from the experts. First off, 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 market that cause concern and confusion, but ultimately, no, we are not seeing a market correction. But, we are 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.