In this Article...
In Charleston, South Carolina, with recession talks on the rise, it's essential to understand that economic downturns don't always translate into housing crises. According to Charlotte Lemon, a Realtor at Charleston Home, historical data shows that home prices often remain stable or even increase during recessions.
A Recession Doesn’t Mean a Housing Crisis
Some Highlights
- There’s a lot of talk about a recession lately and how the odds of one are rising. If you’re wondering what that means for the housing market, here’s what the data tells us.
- While you may remember the price crash in 2008, that’s not the norm. Looking back all the way to 1980, home prices usually rise and tend to fall.
- If you have questions about buying or selling a home in today’s market, connect with a real estate agent.
