A recent survey indicates that 63.4% of respondents foresee a recession within the next year, marking the highest concern since 2019. Despite these economic fears, nearly 30% of prospective homebuyers believe a downturn could present buying opportunities, motivated by personal circumstances such as family dynamics or new jobs. Interestingly, 54.4% stated that a recession would not influence their home-buying decision at all. However, challenges such as limited housing inventory and budget constraints remain significant obstacles for many buyers in today's market.
According to a survey, 63.4% of respondents expect a recession in the next year, the highest concern level since 2019, yet many see opportunity in the downturn.
While 63.4% expect a recession, nearly 30% of home shoppers believe it will make them more inclined to buy, driven by personal motivations like job changes.
Danielle Hale, chief economist at Realtor.com, noted that despite economic uncertainties, some buyers anticipate a downturn could yield opportunities for home purchases.
The survey revealed that while a recession looms, lifestyle motivations like family growth and relocation remain predominant for home buyers, outweighing market fears.
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