Housing Crash 2022 Still On Hold

Do a Google search on the topic Housing Crash 2002 and you'll see over 1.15 BILLION results!

Clearly, this is a topic of interest.

So, will we have a housing market crash in 2022?

It does not look like it as of today, based on the data.

The real estate news industry is reporting breathlessly that homes for sale rose "faster than ever" in June. The leading source was Realtor.com. Along with the increased inventory are higher asking prices and reduced sales prices, meaning sellers are trying to get higher prices, reducing them to a reasonable number or taking them off the market, but prices are still going up overall at a rate just slightly below the rate of inflation. We call this a normal and healthy market.

Yet, the real estate news industry is stuck getting people into a frenzy to get them to click, so we get headlines like this:

A tipping point between what and what? And what is the evidence of a tipping point, instead of market forces correcting themselves? Of course, not said in the article.

The data, however, is much calmer.

Nationally, while the number of existing homes for sale has increased dramatically over the past few months, it is still historically low, indicating the market is correcting itself towards a more normal level. 

While inventory has slightly risen above last year, it is still well below all years prior. As a result, while home sales are decreasing, the values are still rising.

Locally, the same trends hold, with inventory increasing over last year's levels but still low by historical standards, sales dropping, yet pricing still rising at a healthy level.

So, what to do?

If you are looking to buy a home and live there a while, real estate has always been a great long-term builder of wealth and there is nothing to suggest that is changing. IF you can afford the home.

If you are looking to move or downsize, it's still a great market to sell, but a bit more challenging than in the last few years.

Finally, if you can find a property that will give you cash flow, this is a great time to get solid cash flow and enjoy the tax benefits of real estate.
--

#probateattorney #probatesales #probaterealestate

I host two FREE Real Estate Zoom calls every week:

Real Estate Flipping / Investing Focused:
Tuesday 3PM Pacific Time
Link: https://www.eventbrite.com/e/so-cal-real-estate-investment-meetup-tickets-80900334077
Topic: So Cal Real Estate Investing Meetup
This group is for Landlords, Fix and Flip, Traditional and Non-traditional Real Estate Investing, as well as all Real Estate Service Providers (Agents, Title, Contractors, and more.),

Probate Focused:
Thursday 4PM Pacific Time
Link: https://www.eventbrite.com/e/how-to-get-your-first-sale-in-probate-real-estate-tickets-67396261031
Topic: How to Get a Sale NOW in Probate Real Estate

There are lots of programs that promise to help you sell a LOT of homes, but how do you get your 1st sale? As the baby boomer ages, the number of homes being passed on to heirs continues to increase. I'll share with you 11 different ways that I have generated a listing or buyer sale that do not cost you any money.