Is recession GOOD for the housing market? you might be surprised! | orange county real estate

No matter how you define it, the word RECESSION spawns thoughts of fear, despair and economic collapse. But here’s two ways recession can actually help the housing market for both buyers and sellers.

So with talk of a recession in 2023 growing, potential home buyers and sellers may be left worrying about how it’s going to effect their real estate goals and I’m here to add some necessary context so while you may still feel some uncertainty, maybe, just maybe, it’ll be a small white pill moment. Here we go!

Like most people, you may believe the announcement of the economy being in a recession spells DOOM for the housing market. But you might be surprised to learn, recession may not spell doom and gloom for your home value if you're an owner, nor for mortgage rates if you're a potential buyer.

I'll go over a quick report from Keeping Current Matters that compiles the data findings from CoreLogic, The Balance, Freddie Mac and Mortgage Specialists. I think you'll find the information interesting, beneficial or at the very least, optimistic.

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Credits:

KCM:
https://www.keepingcurrentmatters.com/2023/01/16/what-past-recessions-tell-us-about-the-housing-market/

Fortune Article:
https://fortune.com/2019/06/19/next-recession-assets-mortgage-rates/

Thumbnail background Photo:
Photo by Kostiantyn Li on Unsplash

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