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Gorman's Gazette Blog

Thursday, September 1, 2022   /   by Mikayla Gorman

What Would a Recession Mean for the Housing Market?

What Would a Recession Mean for the Housing Market? 





Some Highlights

If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us.
In four of the last six recessions, home prices actually appreciated, only falling during the early 90s and the housing crash in 2008. Mortgage rates, though, declined during each of the previous recessions.
If you have questions about buying or selling a home in today’s market, let’s connect. ...

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  home prices, housing market, home equity, mortgage rates

Tuesday, August 30, 2022   /   by Mikayla Gorman

What’s Actually Happening with Home Prices Today?

What’s Actually Happening with Home Prices Today?





One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.


Appreciation is when home prices increase.



Depreciation is when home prices decrease.



Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.


Experts agree that, nationally, what we’re seeing today is deceleration. That means home prices are appreciating, just not at the record ...

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  home prices, 2022

Tuesday, August 23, 2022   /   by Mikayla Gorman

3 Tips for Buying a Home Today

If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers like you additional options.
But it’s important to keep in mind that while inventory is improving, it’s still a sellers’ market. And that means you need to be prepared as you set out on your home search. Here are three tips for buying the home of your dreams today.
1. Understand How Mortgage Rates Impact Your Homebuying Power
Mortgage rates have increased significantly this year, and over the past few weeks, they’ve been fluctuating quite a bit. It’s important to stay up to date on what’s happening with rates and understand how they can impact your purchasing power when you’re thinking of buying a home. The chart below can help.
Let’s say your budget allows fo ...

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  home prices, housing market, keeping current matters, housing inventory

Sunday, August 21, 2022   /   by Mikayla Gorman

Why a Home Inspection Is Important

Why a Home Inspection Is Important 





Some Highlights


If you’re buying a home, here’s what you should know about your home inspection and why it’s so important.



A home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road.



Let’s connect so you have an expert on your side to guide you through the process. ...

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  home prices, mortgage rates, buyers, buying a home, inspection

Thursday, August 18, 2022   /   by Mikayla Gorman

What Would a Recession Mean for the Housing Market?

What Would a Recession Mean for the Housing Market?





According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a recession in the coming 12 months.

And as more recession talk fills the air, one concern many people have is: should I delay my homeownership plans if there’s a recession?

Here’s a look at historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession would mean for the housing market today.

A Recession Doesn’t Mean Falling Home Prices

To show that home prices don’t fall every time there’s a recession, it helps to turn to historical data. As the graph ...

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  home prices, housing market, 2022

Jason Gorman Real Estate Team Keller Williams Premier Realty
Jason Gorman
635 Bielenberg Dr. Ste 100
Woodbury, MN 55125
651-735-7653

The data relating to real estate for sale on this web site comes in part from the Broker Keller Williams Premier Realty of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Lakes Area Realty are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2022Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated September 28, 2022
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Jason Gorman - Jason Gorman Real Estate Team / Keller Williams Premier Realty are marked with the Broker ReciprocitySM logo or the Broker Reciprocity and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Copyright2022Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated September 28, 2022
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