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Is the Housing Market Crashing?

Are home prices dropping? Should you wait to buy or sell a home? Should you be panicking? NO! Here’s what’s really happening in the real estate market.

Graph showing significantly more people that want homes than there are homes available

Are Home Prices Dropping?

The short answer: no. Home prices are based on supply and demand. And there are currently way more people that want homes than there are homes to put them in. What you can learn from this (and from the historical data that backs it up):

  • Home prices are not dropping. They will continue to rise for the next five years—just at a slower rate.
  • The market is not going to crash.
  • As the market slows down and supply increases, we expect to see supply and demand level out in the next few years.

What’s Up With Interest Rates?

In 2020 and 2021, interest rates were at an all-time low and have since risen. Here's what this means:

  • While it feels like interest rates are at an all-time high, they’re not. They were around 17% in the ‘80s!
  • Don’t wait to buy a home until interest rates and prices drop—these rates are the norm compared to the past two years.
Graph showing interest rates reaching a high in the 1980's and decreasing over time
Introducing: RamseyTrusted Our ELPs are RamseyTrusted

That’s right—RamseyTrusted. These Endorsed Local Providers (ELPs) are top-performing real estate agents Dave Ramsey and the Ramsey team trust to do what’s right for you no matter what. That’s how they earn (and keep) the RamseyTrusted shield. 

Couple purchased new house using ELP RamseyTrusted Pros

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Ramsey Endorsed Local Providers

Don’t Navigate This Market Alone

If you need help finding an agent—one who cares about you, puts your worries at ease, and has the experience to navigate this market—we can help. Our ELPs are RamseyTrusted and will serve you with the excellence you deserve. Fill out the form to connect with a pro you can trust.

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Other Resources

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Is the Housing Market Going to Crash?
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Is the Housing Market Going to Crash?

Is the housing market going to crash? No. This isn’t a 2008 repeat because today there are half the number of homes for sale and double the number of buyers.

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How Much House Can I Afford?
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How Much House Can I Afford?

A monthly mortgage payment should never be more than 25% of your monthly take-home pay. Use our home affordability calculator to find a home price you can actually afford without crushing your budget!

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