(A guest post from the Ilumni Institute)
If you’re wondering how the Russian invasion of Ukraine has impacted—and could still impact—the U.S. housing market and your clients who have to make decisions about real estate in this climate, here’s what you need to know:
The two metrics to watch are interest rates and affordability. Should those turn away from a buyer’s favor, then we will start to see values decrease. For now, we are not seeing any impact on pricing, but impact on values lag one to two months behind consumer behavior.
We never know a market has turned until after it has. Only hindsight shows the highest and lowest points on the bell curve. So, as you counsel your clients to either sell or refinance, I’d encourage them to make an informed decision and consider what we know is true now: that values are at an all-time high and rates are still at bargain-basement lows.
Because of the challenging nature of the market—further impacted by war, no matter how far away—it’s more important than ever to have a real estate expert at your fingertips. I am always happy to answer any questions your divorcing clients may have about moving on to their next chapter. Feel free to call me anytime!
CDRE, SRES, CDPE, CLHMS, GPS
Los Gatos, CA
SHANNON ROSE/ROSE GROUP
KW BAY AREA ESTATE
16780 LARK AVE.
LOS GATOS, CA 95032