If you’re following the news, all the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.
The current market is not a crash or correction. It’s just a turning point towards more typical, pre-pandemic levels.
It’s important to compare today not to the abnormal pandemic years, but to the most recent normal year to show the current housing market is still strong.
First American sums it up like this:
“. . . today’s housing market looks a lot like the 2019 housing market, which was the strongest housing market in a decade at the time.”
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