Waiting for Home Prices to Drop? Here’s One Reason Why They Might Not!
Filed under: Mortgage News
Today’s topic is something that I am seeing continually: headlines and people talking about how everyone is just waiting for real estate prices to fall. When prices fall, then it’s time to jump into the market. So, people are just trying to time the market. I wish everyone luck with that.
US Demographics Show Valuable Insights
The chart that I’m using in today’s video shows the demographics here in the United States. The chart is broken down by age and generation.
It’s easy to see on the chart: millennials are by far the biggest population to squeeze through ever in US history. To make a comparison, Boomers are 69 million and millennials are 73 million people. The circled spot on the chart is pointing out the people who are at the prime age to buy a home.
So, we are starting to see these guys move into the first-time homebuyer’s stage. Again, demographics are another reason why it is more and more unlikely that we are going to see these prices fall.
A Different Perspective About the Future Real Estate Market
Are we going to see fluctuations? Yes! Absolutely. That’s always going to happen.
Are we going to see another 2008? Do not hold your breath.
I wanted to share another point that counters so much crud that we hear in the news. Hopefully this information will give you a different perspective. When you really look at the numbers, it shows that there is no way the market is going to crash.
Add these details to the conversation about rates coming down in the future and how that is going to boost the real estate market. All of the evidence is pointing to the fact that it doesn’t look like home prices will be coming down anytime soon.
Don’t Sit Around Waiting for Prices to Fall
If you are thinking about buying a home: don’t sit around and wait for these prices to fall. I don’t see it happening that way.
Reach out to Bill Provost at Franklin Loan Center in Temecula for more information or to get pre-qualified for a home loan. (425) 241-1922. CA BRE License # 01867503
