• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

myHBliving

Huntington Beach Lifestyle

  • Real Estate
    • Instant Home Value
    • Start a Home Search
    • Buyer’s Guide
    • Seller’s Guide
    • Communities
      • Downtown HB
      • Northeast HB
      • Northwest HB
      • South HB
      • West HB
  • Information Hub
  • Huntington Beach Living
    • Lifestyle
    • Outdoors
    • Restaurants
    • Events
  • Fundraisers
  • Contact

Today’s Housing Market Is Nothing Like 15 Years Ago

January 11, 2023 by Megan Gullotta

Today’s Housing Market Is Nothing Like 15 Years Ago Simplifying The MarketThere’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:

Today’s Housing Market Is Nothing Like 15 Years Ago | Simplifying The Market

Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago.

There’s Opportunity in Real Estate Today

And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now. According to David Stevens, former Assistant Secretary of Housing:

“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”

Bottom Line

Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer right now, this may be the chance you’ve been waiting for.

More Posts

You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]

Experts Forecast a Turnaround in the Housing Market in 2023

Should You Rent Your House or Sell It?

Lower Mortgage Rates Are Bringing Buyers Back to the Market

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

STAY UP TO DATE!

Never miss a thing in Huntington Beach! Let me keep you in the loop by getting fun local events & local real estate news delivered straight to your inbox!

Your information is never shared.

Categories

  • Fundraisers
  • Information Hub
  • Lifestyle
  • Local Events
  • Outdoors
  • Restaurants

Footer

Megan Gullotta
Realtor

Connect with Me on:

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Copyright © 2023 · Agent Focused Pro on Genesis Framework · WordPress · Log in

Seven Gables Real Estate. Equal Housing Opportunity. Agent Lic. #01964682 | Office Lic. #00745605.
© Copyright 2020 myHBliving | Megan Gullotta. All Rights Reserved. Privacy Policy