Will a Recession Affect the Housing Market? Here’s What You Need to Know
With all the recent talk about a possible recession, it’s understandable that many homeowners are feeling uncertain. The fear of a housing crash looms large but history tells a different story.
Let’s set the record straight. In 4 of the last 6 U.S. recessions, home prices actually increased. That’s right, in most cases, real estate values held steady or grew. The 2008 crash was a unique situation caused by a very specific lending crisis, not a pattern we’ve seen repeated.
Inventory remains tight in many areas, and buyer demand, particularly for lifestyle-driven properties like those with acreage or equestrian amenities, is still strong. Mortgage rates have dipped slightly, giving buyers a bit more leverage, but not enough to cool activity. People are still eager to move, and many are prioritizing space, privacy, and long-term value.
So, will a recession affect the housing market? Based on national patterns and what we’re seeing on the ground, the answer is: not in the way most people fear. What we’re experiencing now is a market correction, not a collapse. This means opportunity still exists for sellers who take the right approach.
If you’re considering selling this year, don’t let the headlines hold you back. The market remains active, especially for unique properties that offer land, amenities, and a lifestyle buyers can’t find just anywhere else.
Wondering what the data looks like in our neck of the woods? Here’s a quick snapshot of recent data in Oregon and SW Washington:
Pending sales are up 32.1% from February
New listings jumped 38.4% month-over-month
Active listings rose 28.9% year-over-year
⏱️ Market time is down 18 days compared to March 2024
Let’s talk about how to price, prep, and market your property for success in this evolving landscape. Reach out now!