It may be several more decades before anyone forgets the housing crisis created by the bubble that affected much of the United States between 2006 and 2012 with the collapse marking the largest price drop in history in 2008. If you knew of someone who bought their home at the top of the market and perhaps has not yet completely recovered, you may be concerned about when or even whether the next housing crisis will take place and wondering about if now is the best time to look at property listings or if you should wait.
The problem is that nobody has a crystal ball to predict the future with, so providing you with a “safe bet” answer to this question is impossible. However, what is most important really is whether it is the best time to look at property listings for your situation and goals. Rather than considering where the market lies, it might be best to consider whether it is a smart financial decision for you right now.
Rather than look at where the prices are headed and make an educated guess, consider what your housing situation is. If you are renting and paying more per month than you would to own a home, looking at property listings might be the best move you make. It doesn’t really matter if the house drops in value later if your monthly expenses can be managed comfortably and you aren’t in any rush to sell your home. The biggest losers in the housing crisis were the people who walked away during the collapse instead of sticking around until the prices rebounded.
If you would like to know about property listings in the Hickory, North Carolina area or discuss whether this is a good time for you to be looking, contact us at Thornburg & Associates, Inc. We are more than happy to assist you with locating the ideal home for you as your primary, secondary, or investment property. Call today to learn more.