Last week, I attended a real estate conference in Traverse City, Michigan headed up by Jeff Glover of Glover U. We had the opportunity to sit down for a zoom conference with Lawrence Yun, the Chief Economist of The National Association of Realtors, (NAR), to discuss a topic that has been at the forefront of many minds this year.

When asked by Jeff Glover if there was a real estate crash in sight, Lawrence Yun confidently assured us otherwise, stating, “No. Prices may drop briefly in 2022 but a housing shortage will counteract this – the new set of buyers will bring them back up.”

He went on further to predict that rates may hit 3.5% over this next year – following the trends, which is certainly nominal. For those of you who wondered if this particular market we’re in would end soon, that is not believed to be the case. While the competitiveness will remain, you can be certain my team is still working hard to help our clients navigate it all. I can assure you that whether you’re a first time home buyer, searching for your dream home or next investment property, we are here to guide you through the process. There is still plenty of luck to be had in this market!

Kudos to Glover U for welcoming such a terrific speaker to give some depth and context to this market – shedding some light on a question that we’ve all been asking.

I am always available to assist with your real estate needs, whether it’s investment properties, relocation or a contractor referral! Call me at 401-602-5162.