Some experts are predicting a slowdown in the economy later this year and most economists are saying that the next recession could only be eighteen months away. The question is, what will be the impact and the victims of the next economic storm, not northern VA housing!
Here are several expert opinions:
Ivy Zelman in her latest “Z Report”:
“While economic activity appears to have accelerated so far in 2018, some prominent economic forecasters have become more cautious about growth prospects for 2019 and 2020…
All told, while solid long-term demographic underpinnings support our positive fundamental outlook for housing, in the event micro-economic headwinds surface, we would expect housing transaction volumes and home prices to weather the storm.”
Aaron Terrazas, Zillow’s Senior Economist:
“While much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn.”
Mark Fleming, First American’s Chief Economist:
“If a recession is to occur, it is unlikely to be caused by housing-related activity, and therefore the housing sector should be one of the leading sources to come out of the recession.”
Mark J. Hulbert, Financial Analyst and Journalist:
“Real estate may be one of your best investments during the next bear market for stocks. And by real estate, I mean your home or other residential properties.”
U.S. News and World Report:
“Fortunately – and hopefully – the history of recessions and current issues that could harm the economy don’t lead many to believe the housing market crash will repeat itself in an upcoming decline.”
Much of the Northern VA real estate market continues to have a low inventory of available listings making it challenging for home buyers. This trend will continue since the total available residential properties continues to lag growth and new construction can’t keep up. This will keep real estate in northern Va strong into the next recession. Let’s not forget that Apple and Amazon have Northern Va on a short list for their new corporate locations.
Today’s New Listings in Northern VA:
Sorry we are experiencing system issues. Please try again.
Call Joey, an exceptional real estate agent and REALTOR with RE/MAX Preferred Properties, for selling or buying a home in Northern VA. Your Home My Passion.
Specializing in happy home sellers and home buyers, selling starter homes, trade up homes, premium homes, and luxury real estate in Northern VA. Selling homes since 2003 to first time home buyers, relocating clients, first time home sellers, luxury clientele, downsizing, and trade up clientele. Helping home sellers sell quickly and profit more with a carrier average days on market of 39 days.
Alexandria, Arlington, Burke, Centreville, Chantilly, Dunn Loring, City of Fairfax, Falls Church, Great Falls, Herndon, McLean, Oakton, Reston, Sterling, Tysons Corner, Vienna, or anywhere in Northern VA.
The original article Victims of Next Economic Storm: Not Northern VA Housing, posted on Call Joey’s Keeping Current Matters Blog Here .