Let's Talk About The Housing Market...

The real estate market is shifting... whether you are a loan originator, realtor, home inspector, title sales, builder rep or contractor. We are all going to have to adapt as 2023 approaches, but how do we adapt and what do we think is coming.

I hear so many people saying "the market will get back to normal". But what does that mean? What does normal look like? Or is this next shift going to be something new all together?

We know rates are up, inflation is up, stocks are down and a lot of people don't feel good about the economy. It is true that both sellers and buyers are reacting to things with emotion but often not with facts. We also know that facts are different than what most people talk about. Factually...

• Rates are still good
• Housing is a basic human need... food, clothing and shelter
• Rents are through the roof and rising
• Central Ohio has a booming economy and Intel will bring jobs and the need for more housing
• Home sales have slowed... but they always slow as the fall comes near

So what is coming? A lot of the veterans say it is going to go back to the 2012 market. Others worry that 2007-08 is coming back. The news loves giving bad news about housing because bad news equals good ratings.

The reality is no one knows... we can only guess. Yes, there is data that helps make predictions, but they are just that. So what do we do to ensure that our businesses continue to thrive?

We can stay focused on what we have done to be successful in the first place. Strong communication, prospecting every day and out working our competitors. We can continue to ask our sphere of influence for referrals. As others give up and leave the industry we can grab market share and gain their clients for ourselves.

I truly believe that in chaos is opportunity, and I see nothing but opportunity ahead.

What do you think comes next?