Purchasing or selling a home can be one of the most significant financial transactions you will ever make. To ensure that you make educated judgements and steer clear of frequent mistakes, it's
Predicting a Downturn in a Market
Dated: August 15 2022
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.
"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....