Predicting a Downturn in a Market

Dated: August 15 2022

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Let's define a market as a geographical area, along with one’s desired home features, in which one is looking to purchase a home. A downturn in a market can be defined as a period of consistent growth of closed sale prices followed by a period of consistent decline to the mean of closed sale prices for the past months.

  •  A recent downturn - 3-6 months

  • A downturn - 6-12 months

  • Yearly downturn - 12 months or more

 The period of a downturn in a market is significant, as it determines the boundary in which a home is deemed to be in an upward, or downward market. 

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Ernest Riley

"After surviving the housing crash of 2008 with the help of an outstanding Realtor®, I became one to pay it forward."Ernest Riley is a Realtor® Associate with Berkshire Hathaway HomeServices J....

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