While the economy’s status continues to be a source of concern, most economists predict that low supply and high demand will continue to fuel home price appreciation.
They key to communicating this with your clients is helping them understand why the market is different than the one that led to the housing collapse.
Before the Great Recession, the housing market had:
- Irresponsible mortgage lending
- An oversupply of homes
- Overtapped equity
Today’s market looks the opposite with:
- Stricter lending practices
- An under-supply of homes
- More equity
