Hi there, I’m Rachel Pope, Listing Specialist with Jean Scott Homes. I hope this video finds you and your family safe and healthy. As Jean discussed in the last video, we are doing a series of videos to discuss how COVID-19 and this pandemic are affecting the housing market, what we’re doing to combat it, and then how we’re still helping our buyers and sellers meet their real estate goals each and every day.
If you were affected by the great housing market crash of 2008, it’s only natural to think that it’s happening again and what trials we are set to face. Over the next five videos, we’re actually going to explore 5 things that we know about the housing market now that were difference than in 2008.
Prices are not soaring out of control.
When we look at the 6-year period of time leading up to the housing bubble, in comparison to the past 6 years, we actually see a big difference. While we’ve definitely been in an appreciating market over the past 6 years, it’s nowhere near the rising prices that proceeded to crash. In fact, the highest appreciating level we have seen in the past 6 years is still below the lowest level we saw before the crash.
For more information about this, feel free to reach out; we’d love to share with you our resources to stay on top of this. During the next video, we’ll talk about the number of houses for and market inventory, so stay tuned and stay safe and healthy out there.
To follow along with our series, here’s Part 2: Inventory with Rachel Pope.