Do you wanna know if we're in a housing market correction right now? Stand by for the answer.
Hi, I'm Tami Savage with eXp Realty.
I know the future of the market will play a big role in your decision about your home, so I'm here to bring you information from the experts.
Forbes defines a market correction as, “A sustained decline in the value of a market index or the price of an individual asset. A correction is generally agreed to be a 10 to 20% drop in value from a recent peak.”
Headlines are saying a lot of things about the market that causes concern and confusion, but ultimately, NO, we are not seeing a market correction. However, we are seeing a change of some kind.
Danielle Hale from realtor.com says, “The housing market is at a turning point. We are at a turning point. We're starting to see signs of a new direction, but the ball is still in the sellers' court in most housing markets.”
In fact, we're still in a sellers' market right here in our area, Cumming, Canton, Ball Ground, and Milton.
With the last two years being market anomalies, we are interested to see where the market is going too.
I'm Tami Savage with eXp Realty, your key to a new lifestyle.
Thanks so much for watching and make it a great day.