Thursday, February 13, 2020 / by Kevin Kauffman
Are we heading into a recession?
With the looming presidential election, talk of volatile interest rates, and inventory shortages (or surpluses, depending on which part of the country you live in), we understand why this question is getting bandied about a lot.
Unfortunately, our crystal ball is broken, but we do know a few facts. Interest rates are really low and, as we just mentioned, so is inventory. These indicate that we’re in the opposite of a recession. Fannie Mae and Freddie Mac both expect interest rates to stay low, and rental prices have increased in the Phoenix area.
So we don’t appear to be headed for a recession anytime soon, but there are other factors at play, and these conditions won’t last forever. In the meantime, though, our market is healthy, and we need more home sellers. If you’re thinking of selling, now is the time to reach out to us. As always, if you have questions about this or any real estate topic, don’t hesitate to get in touch with us as well. We’re happy to help.