January 2, 2024

By Isabel Guzman, Realtor®

Video Transcription

We all know the real estate market can be finicky with seasonal fluctuations, what we like to call the ebbs and flows of the market. Hi, I'm Isabel Guzman Broker Associate and Realtor with exp Realty.

These cycles are often influenced by various economic, demographic and market specific factors that typically follow a pattern of phases.

Let’s take a look at these phases.

Expansion Phase. -

This is the boom where the market experiences growth and rising property values.

Peak Phase.-

This represents the top of the market where prices are at their highest point and demand begins to stabilize.

Bust Phase.-

The market cools significantly, demand decreases and prices may start to decline.

Trough Phase.-

This is the bottom of the market cycle where property values have declined and we see an oversupply of homes on the market.

And finally the Recovery Phase. -

The market starts to stabilize again and improve. Demand

begins to pick up usually with favorable economic conditions. Understanding the ebbs and flows of the market is essential for both buyers and sellers. This is why it is so important to meet with your local area agent to guide through these phases.

If you would like more housing data to see what is happening in your local area, reach out to my team and I so we can help strategize your

next move! I'm Isabel and I'm always happy to help.