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If anyone tells you they can predict or time the market, they’re wrong. There. I’ve said it. As much as I’d like to be able to predict the future, and I’ve been doing research and looking at data for corporations for more than 30 years, I cannot. There are always unpredictable events, unprecedented ones. “Black swans”, in the parlance of some. And, given the geopolitical situation, I think that unpredictability is a given.
That said, at this time of year, things do often take on a positive trajectory. Especially here in North America, they get a “back to school” feeling – that it is a time for fresh starts and possibilities. If that feeling gains a foothold, as it often can, then we should see an uptick in the real estate market. That said, housing values have fallen more than 15% since the 2022 peak, so even a rising market won’t rise fast enough to net you a big gain (or possibly a gain at all) if that’s when you bought, and you’re looking to sell now.
When I’m working with buyers, even experienced ones, I like to point out that it takes years to smooth out the lumps and bumps of the real estate market, no matter when you buy. My best advice is to wait at least five years before making a change. TV-style house flipping is rarely something that works out, and especially if you’re not distributing your risk across a whole basket of investments.
So, I will cautiously say, that if you’re thinking about selling, you’ll do better than you would have done on the same property a couple of months ago. But for a real gain, you’ll do better if you bought your place five years ago, or more.
Whatever your property question, your specific situation will be different than the market, or the average. I’m happy to discuss your questions and hear about your goals!