Market Updates

Doomsday Denied: 12 Predicted Real Estate Crashes That Never Happened

There is no shortage of doomsayers in the real estate industry. For the past 12 years, we’ve heard countless prophecies of an impending real estate market crash. Interestingly, the experts who forecasted these crashes have consistently been wrong. Let’s dive in and look at the reasons given each year, and why the market didn’t collapse as predicted.

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Buyer Showings Surge: Real Estate Market Heats Up Once Again

The real estate market is experiencing a significant rebound from the late 2022 lows. According to the ShowingTime Showing Index, buyer showings are up more than 70% from the 2022 low, indicating a resurgence in buyer activity. This revitalization of the market brings multiple offers, bidding wars, increased competition for buyers, and lines at open houses. Let’s take a closer look at what this means for both buyers and sellers in the current market.

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Gen Z Outpaces Parents on Homeownership, Millennials Get Left Behind: A Tale of Two Generations

Believe it or not, our youngest generation, Gen Z, is actually surpassing their parents (you know, those Gen Xers) in the homeownership race. According to recent stats by Redfin News, 30% of 25-year-olds owned their own home in 2022. That’s up from the 27% rate for Gen Xers when they were the same ripe age of 25! You go, Gen Z! But, alas, those who snoozed on pandemic-era low mortgage rates might be feeling the FOMO.

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The Housing Market Heats Up: Spring Selling Season Defies Expectations

As the spring selling season blooms, the housing market is experiencing a surge in demand, defying early-year predictions of a cooldown. With mortgage rates still up, the strong demand for homes can be primarily attributed to the exceptionally low supply of homes available for sale. This unprecedented demand bodes well for sellers, as more buyers are entering the market.

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