5 Reasons the housing market won’t crash

…despite the doom and gloom being reported everyday.

There still isn’t enough inventory to meet current demand. Most would-be sellers are loathe to part with 3-4% mortgage rates. Who can blame them? It seems as though 75% of the listing market is due to relocation, death, or divorce.
Builders have slowed down their production. There are a number of reasons for this. I will expand on this topic next month for those people considering investment properties
A new class of buyers are buoying the market. Millennials and Hispanics are leading the charge for the first-time home buyers.
Lending standards are much stricter than they were 15 years ago. You’ll recall that was the impetus for the crash in 2008. The money isn’t nearly as free flowing in 2023. Those who have bought are more qualified buyers than ever before.
With the market increases over the last 5 years, homeowners have more equity in their homes than ever before. This trend continues. In 2023 home prices have increased by 4% from the beginning of the year until now.