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Waiting for a Real Estate Market Crash?

If you’re thinking about waiting for prices to crash before buying, then read this post first.  Like many buyers we talk to, you’re likely considering what the market was like in2008…when the housing market did, indeed,crash. No question, it was a devastating time for many homeowners. BUT have you considered the possibility that 2022 is nothing like 2008? Let’s talk about it:  – What drove the crash in 2008 and sent home prices plummeting was the oversaturated market. There were WAY more homes than buyers. In 2022, it’s exactly the opposite. Inventory is low—and that’s driving prices high. – Prior to 2008, getting a mortgage was as easy as ordering from DoorDash. Nowadays, there are much tighter regulations on the lending industry. Not just anyone can get a mortgage now.

In 2008, there were 13.1 million adjustable-rate mortgages (ARMs) on the books. Today, there are around 2.5 million. That’s good news. Why? Fewer ARMs mean fewer homeowners are experiencing the sticker shock of a mortgage rate reset that typically raises the payment and can lead to mortgage hardship. If you’re wanting to learn more, or hear about our market’s health here in Lincoln, Nebraska, reach out to us – you know we love to talk about it!

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