What History Tells Us: Home Prices & Mortgage Rates During a Recession
By LeAnne Carswell, Real estate broker in charge of large team
(Expert Real Estate Team)
Every time the word "recession" starts popping up in headlines, it brings a wave of uncertainty—especially for anyone thinking about buying or selling a home.You might be wondering: Are home prices going to crash? Will mortgage rates skyrocket? Should I wait to make a move? Totally fair questions—and you’re not alone in asking them. The good news is we can look to history to get some real answers.Let’s break it down.A Recession Doesn’t Automatically Mean Home Prices Will DropFirst, let’s clear up a common myth:A recession is not the same as a housing crash.Data shows that in 4 of the last 6 U.S. recessions, home prices actually went up, and in one, home prices dropped less than 2%. The exception was 2008—and that was a very specific situation involving risky loans, overbuilding, and a f...
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