Sell My House in MD | Housing Market: Another Gigantic Difference Between 2008 and 2018
Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses quick, for cash and at a fair price.
This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.
In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer right away... you've come to the right place.
We can provide customised innovation towards all your real estate needs if you are a home seller.
Today, I would like to talk to you about Housing Market: Another Gigantic Difference Between 2008 and 2018
Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis.
However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes available for sale leading up to the 2008 crash.
A normal market should have approximately 6 months supply of housing inventory. As we can see, that number jumped to over 11 months supply leading up to the housing crisis. When questionable mortgage practices ceased, and demand dried up, there was a glut of inventory on the market which caused prices to drop as there was too much supply and not enough demand.
Today is radically different!
There are those who believe that low mortgage rates have created an artificial demand in the current market. They fear that if mortgage rates continue to rise, some of the current demand will dry up (which is a possibility).
However, if we look at supply again, we can see that the current supply of homes is well below the norm of 6 months.
We will not have a glut of inventory like we did back in 2008 and home values won’t come tumbling down. Instead, if demand weakens, we will return to a normal market (approximately a 6-month supply) with historic levels of appreciation (3.6% annually).
To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house.
To connect with me directly,
Please call Fernando at 301-246-0001
Or via email: Fernando@ReallyNiceHomes.com
If you are thinking of selling your home in a more traditional way... Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information