What do you think will happen to home prices from COVID-19?

I have had a few buyers (mostly people around my age) reach out asking me whether or not housing prices will due to COVID-19. I am finding that younger home buyers are stuck in the mindset that with recession comes deep discounts for the housing industry. I can relate to these inquiries, as most of these buyers have only lived (at a young age) through the 2008 recession that was initially caused by the housing crisis in the first place. 

For those who are aren't familiar or know how to interpret the market you may think that since the stock market has plummeted that must mean that houses are cheap again, right?! (Not necessarily, they don't go hand in hand)

Aren't interest rates at record lows? (They were for a few days) until they got so swamped with refinances and now have massive liquidity alarms (for another blog another time), where are the houses that are being 'given away' at? 

I've heard people say that they are waiting to buy a house when the next recession comes, (well folks looks like it may be here, but don't expect housing prices to tank).  While I do not know all the answers and do not have a crystal ball I will let you know what I have seen and noticed so far as we are on a stay at home order. 

Real Estate in Colorado IS considered an essential business. We are still able to buy and sell homes during this time just with some modifications. (Look out for more upcoming blog articles about some of the changes we have in our day to day tasks, or call me directly to go over my strategy during these times). 

To add to some of the information in the video above, take a look at this graph of the last 40 years of housing prices in Northern Colorado and the effect recessions have had in our market:

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