Despite increasing mortgage rates and increased housing supply—factors that generally impact home prices—home prices have continued to rise. However, the figures reveal that the market is both challenging and pricey. The overall economy and consumer attitude partly influence the present shift in the housing market. On the one hand, there are indicators of a global economic slowdown as GDP has fallen for two consecutive quarters, which some experts believe suggests a recession. On the other hand, the labor market and consumer spending remain robust.

Despite the cooling of the US housing market, it is still a hot market. There are still plenty of sellers giddy with excitement as they sort through several offers, and desperate buyers continue to pay more than the asking prices – often by $100,000 or more.

Reasons why the Housing Market isn’t likely to Crash

According to housing analysts, five strong reasons why a crash is not coming.

• Some facts suggest that the supply-and-demand relationship will not permit a price crash soon. According to the National Association of Realtors, there was just a 2.4-month supply of available homes in September. In February, that figure dropped to a meager 2.0-month supply.
• Homebuilders slowed significantly after the previous recession and never fully recovered to pre-2007 levels. They can no longer buy land and quickly obtain regulatory clearances to meet demand. While constructing as much as possible, a repetition of the overbuilding that occurred 15 years ago appears doubtful.
• Unlike in the past, lenders set strict restrictions on borrowers — and those who acquire a mortgage almost always have excellent credit. According to the Federal Reserve Bank of New York, the average credit score for mortgage customers in the third and fourth quarters of 2021 was a record high of 786.
• Many Americans who previously had homes realized that they required larger spaces during the epidemic, especially with the advent of working from home. So on several fronts, there is a high demand for homes.
• Millions of foreclosures entered the housing market following the housing crash, lowering prices. That is no longer the case. The majority of homeowners have a sizable equity buffer in their homes. Lenders did not file default notifications during the pandemic, causing foreclosures to hit a new low in 2020.

Some areas have experienced population growth in recent years, resulting in a demand for residences. Unfortunately, new home development has not kept up with demand, so the values of older homes have risen. It has made it difficult for people who want to relocate to obtain affordable housing. If new home development does not begin soon, home prices in these locations will continue to rise, and many people will be unable to afford to live in the city.

How to Choose the Best Movers

Choosing the best moving company might be difficult. There’s packing, unpacking, relocating, and storage to consider. You require excellent moving and storage companies like DTC Movers Denver to handle your belongings with care and speed. Here are a few important considerations when choosing a good moving company.

• Begin by obtaining free moving quotes. Next, ask friends, relatives, and colleagues for recommendations on a moving firm. Ask for a recommendation if you’re working with a real estate agent.  Denver expert movers offer local and national moving services as well as a variety of associated offers. They’re experienced and licensed, so if you require expert movers for all of your residential and commercial packings and moving needs, you can contact DTC Movers Denver
• Most trustworthy moving firms will not ask for a cash deposit. Also, keep an eye out for how professional or unprofessional the movers appear during the estimate. If a mover seems late or cannot answer your questions, look for another company. Be aware of movers who arrive in a hired van; a professional moving company has its equipment. DTC Movers Denver has been in the relocation business for many years as truck movers. They are local and interstate movers who provide a smooth transition.
• Investigate the moving company’s BBB rating, which is accessible online. Choose moving firms that are BBB recognized or have a good rating.
• Check the phonebook or online for the address provided on the business card or the mover’s website. Check that the address of the moving firm is recorded and registered under the company names. You should avoid any address listed under a residential name.

It may make you nervous about loading and driving a large moving truck. Therefore, hiring a reputable moving company should be your top priority when it comes to moving.