04/01/2024
Here’s a thought: what if home prices stay put?
Consider this: the U.S. population has grown over 50% since 1980, creating a steady demand for housing.
With recent history showing a slowdown in new construction, and the population still on the rise, it seems there's constant pressure on the housing market.
Even with unemployment at historic lows, and the chance of it rising, it's not high enough to trigger a wave of foreclosures.
Plus, loan delinquency rates are minimal. All these factors suggest a continued robust demand for housing.
Factor in the generational dynamics, where Boomers are holding onto their homes, and it's clear why the market remains tight.
Then there's the surge of corporate investment in single-family homes, adding a new layer of competition for individual buyers.
As mortgage rates increase, we might think it would cool down the market. However, the reality is homes are still selling, even at higher prices. If rates dip again, we can expect an uptick in demand.
What do you think? Will home prices stabilize, increase, or decrease? Share your insights!
