“If you’re thinking about buying or selling a house right now, you’re not alone.”
That was the opening declaration in last Tuesday’s essay from the New York Times best-selling author and host of “The Rachel Cruze Show.” Her insights into personal finance and “fun, practical ways to take control of your money” reach millions of listeners who tune in weekly.
Although she prefaced last week’s market prognostication with the welcome caveat that it’s never a good idea to let a market prediction control housing decisions, checking out the experts can be useful for providing an idea of what U.S. and Houston “sellers and buyers might expect” in the coming months.
Ms. Cruze directly addressed 18 questions: here are some that Houston sellers and buyers should find interesting:
• Is Now a Good Time to Buy a House? If you’re prepared to buy a home, yes. If not, no.
• Should I Sell My House Now or Wait? Sellers who are truly prepared to sell their house “can feel confident about selling in 2023”—while inventory is still low.
• Will There Be a Lot of Foreclosures in 2023? A huge wave of foreclosures flooding the market hasn’t happened because “many of the borrowers in foreclosure today have positive equity” which allows them to avoid foreclosure by selling their house or refinancing.
• Housing Market Recession: What Is It and Are We in One? “Well, we sort of were until the number of home sales shot up 14.5% in February.” Since home prices aren’t in a recession, it “really isn’t something to worry about.”
• When will the Housing Market Crash? Because the current market is so different from the Great Recession of 2007-2009, it’s unlikely to crash in the next few years.
• How to Buy or Sell With Confidence in Any Housing Market. It pays to have a professional in your corner…an agent “who knows how to navigate a changing real estate market.”
I might rephrase Ms. Cruze’s closing advice with a slightly shortened version: Call Rinnovare Realty, LLC at (832) 445-4957 or visit us at: www.rinnovarerealty.com .