• Sat. Jul 13th, 2024

Ask Carnac, Is the real estate market over the few months going change for the worse?

Jul 10, 2023
Real Estate Market Falls. Red arrow down on the background of houses.

My Mother-in-law, Rose, affectionately refers to me as Carnac and jokingly mentioned her plan to buy me a turban and take me on tour because of how many times I’ve been right. Now, let me share my thoughts with you on my anticipated changes in the real estate market over the coming months and see if I’m right, again.

July 26th the Fed will raise interest rates again and in late July and August I expect to see a significant slowdown in the real estate market. It will resemble a sudden cessation, almost like someone has turned off the faucet. Consequently, there will be a scarcity of sales, leading to a sense of stillness and reduced activity. This situation will induce a sense of panic among many individuals involved in the market.

As we progress into October, November, and December, the real estate landscape will undergo further transformation. The declining sales figures witnessed in July, August, and September will drive desperate sellers to emerge. These months could become some of the most challenging periods in the past 30+ years. I encourage you to pay close attention and monitor these developments closely. It appears that we are heading towards a challenging end to the year in the real estate market.

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