The real estate market boomed in 2020 and 2021, driven by pandemic trends that included financial stimulus, low mortgage rates, demand for extra space, and remote work.
But as they say, easy come, easy go. On the other hand, 2022 has been a different story for housing as demand cools off, mortgage rates rise, and home sales are down double digits.
Most homeowners are wondering whether home prices will indeed fall, as some prognosticators are now forecasting. Moreover, the National Association of Realtors has said we're in a housing recession based on the decline in home sales.
Even if home prices decline, though, homeowners shouldn't panic. Here are 15 reasons why.
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