Banyan Hill says, ” the Housing market isn’t crashing!”
Google searches for ” Housing crash ” have surged in recent years.
It’s easy to understand the concern- home equity accounts for 65% of the net worth of the average American.
The latest data shows why a housing market crash isn’t a concern:
Homebuilder’s got a wake up call.
New home sales dropped by 16.6% between March and April which supplied the largest inventory in new homes since 2010! It would take 9 months to sell out inventory at last month’s sales pace.
The stage is set for higher home prices
Low levels of existing inventory will continue to drive prices.
Demand remains high
Future demand should remain strong due to to rising rents.
Steven Fernandez, research analyst for Strategic Fortunes, says “Keep in mind the rapid growth we’ve seen since 2020 is an anomaly. I wouldn’t bank on growth of that magnitude to continue”
Check out our blogs on the Sevier County, TN real estate marketing statistics and national housing market statistics.