{"id":3598,"date":"2023-01-11T11:30:59","date_gmt":"2023-01-11T11:30:59","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/01\/11\/todays-housing-market-is-nothing-like-15-years-ago\/"},"modified":"2023-01-11T11:30:59","modified_gmt":"2023-01-11T11:30:59","slug":"todays-housing-market-is-nothing-like-15-years-ago","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/01\/11\/todays-housing-market-is-nothing-like-15-years-ago\/","title":{"rendered":"Today\u2019s Housing Market Is Nothing Like 15 Years Ago"},"content":{"rendered":"

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$\"Today\u2019s$ There\u2019s no doubt today\u2019s housing market<\/a> is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.\n

In the latest Real Estate Forecast Summit<\/em><\/a>, Lawrence Yun, Chief Economist at the National Association of Realtors<\/em> (NAR), drew the comparisons below between today\u2019s housing market and the previous cycle:<\/p>\n

$\"Today\u2019s$ <\/a><\/p>\n

Looking at the facts, it\u2019s clear: today is very different than the housing market<\/a> of 15 years ago.<\/p>\n

There\u2019s Opportunity in Real Estate Today<\/strong><\/h4>\nAnd in today\u2019s market, with inventory rising and less competition<\/a> from other buyers, there\u2019s opportunity right now. According to David Stevens<\/a>, former Assistant Secretary of Housing:<\/p>\n
\u201cSo be advised\u2026this may be the one and only window for the next few years to get into a buyer\u2019s market. And remember\u2026as the Federal Reserve data shows\u2026home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market\u2026right now\u2026as a unique buying opportunity.\u201d<\/em><\/p><\/blockquote>\n
Bottom Line<\/strong><\/h3>\n
Today\u2019s housing market is nothing like the real estate market 15 years ago. If you\u2019re a buyer right now, this may be the chance you\u2019ve been waiting for.<\/p><\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
There\u2019s no doubt today\u2019s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking […]<\/p>\n","protected":false},"author":1,"featured_media":3599,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-3598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t