We're fully immersed in the holiday season, with only a few weeks away from Christmas, and all eyes seemed to be turned toward the current housing landscape.
A few months ago, several major firms changed their tunes when it came to falling housing prices - Morgan Stanley revised their original forecast of a 7% decline to that of 10%, while both Capital Economics and Moody's Analytics adjusted between 15-20% should a recession actually take place.
This coupled with another decline in consumer confidence in November has many wondering how the real estate landscape will look when we enter 2023.
While many might be worried about how this will shape real estate, there are positive signs - Freddie Mac, for example, held out a more optimistic view of housing prices showing a decline of only 0.2%.
Why are Experts Concerned?
The starting point for many of these worries and concerns begins with the constant interest rate increases that the Federal Reserve has been doing since the summer of 2022.
And according to Fed chairman, Jerome Powell, those increases aren't going to stop however, they might be slightly smaller than what we've seen previously. The point of this, of course, is to curb the high demand for inventory and products that began during the pandemic.
The counter to all of this is the decrease in housing affordability, locking out some buyers.
The concern and worry of course go back to the 2008 housing market crash, which still lingers in the minds of us who saw and were a part of it; while most signs don't point towards this as being likely, it's hard not to be reminded of the previous turn in the market.
Where Investors Can Succeed
With all of the reports, articles, and talks, you might believe that there is no point in investing at this time or maybe even in the next few months.
But you might be surprised to learn that now is probably one of the best times to start investing.
In fact, this is actually where those in real estate wholesaling are making their moves. Wholesaling allows investors to not only help buyers in finding and buying homes or properties but help sellers looking to sell those properties.
Equally, the outlook for real estate franchising has also been high, despite the news of potential crashes. At the beginning of the year, the International Franchise Association reported that franchise businesses would expand at a rate of 4.9% and reach over $826 billion this year.
That's a tremendous growth for franchisees, especially those within the wholesale real estate as we're able to capitalize on this time in the market and aren't as affected as other franchising entities.
And when you're looking into real estate franchising, KeyGlee is the name that is not only known but trusted. Our unique position in the industry has opened the doors of opportunities to many investors, buyers, and sellers alike.
KeyGlee has created and developed relationships with buyers and other investors to provide new franchisees with the tools and resources to get started and further their success.
And you can be part of this growing family by scheduling a phone call with one of the representatives to get set up with your own triumphant franchise.
To your success!