What you need to know about interest rates and the future of our market.
By now, you’ve probably heard that our real estate market is changing, but why? Most experts agree that the main culprit is our rising interest rates. If you know where interest rates are heading, you likely know where our market is heading. That’s why I want to take a look at how rates have impacted our market so far and how they might impact it going forward.
You can listen to my full explanation in the video above or skip to each topic using the timestamps below:
0:00 — Introduction
0:24 — How rates have changed so far this year
2:04 — While rates are expected to rise, they won’t increase quickly
2:24 — Is a recession around the corner?
2:50 — Recessions usually aren’t bad for real estate
3:25 — Interest rates typically fall during recessions
3:52 — What experts are saying about home prices
5:18 — If home prices fall, they will recover quickly
5:35 — What’s happening in Chicago’s market?
6:10 — Wrapping up
If you have questions about this topic or anything else, please call or email me. I am always willing to help!