Posted By Alan Donald @ Jun 8th 2020 9:31am In: Real Estate

EIU economic forecast

This email I received from The Economist Intelligence Unit is a bit scary. I doubt the US economy will be spared, or that Charleston will be fully insulated from this worldwide slowdown. This is going to affect us, whether we like it or not!

If you are THINKING of selling your home in the next 2 years, consider selling it NOW instead to get a top market price. Demand is very high and supply very low. Book a VIRTUAL APPOINTMENT at or call/text 843-900-0155.

When the rubber hits the road we will likely see an increase in inventory and very probable price decrease for residential real estate.

However, if you are a long-term planner, or you are buying a home to live in for LONG TERM (5+ years), take advantage of RECORD-LOW mortgage interest rates and go ahead and purchase or refinance now.

HOME AFFORDABILITY (i.e. monthly payment) is much more sensitive to interest rate movements than to price movements. A 1% shift in rates will affect affordability by 10%. Prices will need to change by 10% to achieve the same effect!