How to Use the Correction Cycle to Meet Your Upsizing or Downsizing Goals
If you’re looking to downsize or upsize, then pay attention to this message on how to leverage market conditions to your advantage.
Right now, the real estate landscape is ideal for those looking to downsize. Meanwhile, the market we expect to see in the near future will be great for upsizing.
Depending on your goals, timing your move to correlate with current conditions may allow you to leverage our market to your advantage. Allow me to explain:
Leading experts believe there will be a 6% to 8% correction each year for the next three years, meaning the total correction at the end of that period will likely be between 18% and 24%. If you’re in a $1.2 million home, a market correction of even just 10% over three years would equate to a $120,000 equity loss over that time. In other words, downsizing soon is something you may want to consider.