Whenever the U.S. economy is booming, there are naysayers who view it as terrible news. It’s not surprising since economists can disagree about just about anything and point to statistics that prove their point.
A recent CNBC report provides a golden example. It’s one that, if you’re inclined to think it’s time to sell your Costa Mesa house anyway, would reinforce that thought. It ran under the gloomy headline “Housing is providing another in a line of troubling signs”—the signs were those “pointing to an economic downturn.”
The report elaborated on a finding that compared home sales statistics from a recent period with those that preceded coming recessions. To the analyst author (Fed economist William Emmons), the result indicated that an economic downturn is likely. Although the trend looked “much less severe” than the one that preceded the Great Recession, he thinks December of this year is a plausible month for “peak growth.”
In other words, starting in 2020, look out!
For anyone who believes Professor Emmons, it means that, for Costa Mesa homeowners who are going to sell anytime in the near term, now would be a logical time to put their homes up for sale. That is, before the economy weakens—usually, a trigger for buyer’s market conditions to prevail.
Whether this (or any other) economic prognostication is to be taken seriously is anybody’s guess. But it IS true that if your own plans include selling anyway, the current optimistic mood provides ripe conditions for selling your Costa Mesa house. Giving me a call to discuss is a great way to start!