WOW–tremendous responses and feedback on Part I of this real estate slowdown blog topic from last week. Thanks so much! Nice to know people are reading, following and giving thought to #tarrantcountytuesday.
Last week we established (with data) that there indeed is a slowdown — or market shift — in the housing market. One Dirty Reader asked about this “recession” and I would strongly caution the use of that word. There’s a big difference from a slowdown to a recession.
Is This Slowdown a Good Thing?
Many have indicated that this shift from a sellers’ market to a buyer-friendly market might actually be a good thing. I would agree.
As the data indicated, when prices are increasing so quickly, interest rates are going up — and individual incomes not keeping pace — buyers aren’t buying. That’s not good for anyone in the real estate business. (more…)