With the steady rise of the Randolph County NC housing market, some will question whether this will be for good or whether to expect another dip, and this forecast is usually based on the status of Wall Street. This assumption is not too far-fetched, taking into consideration the economic recession of 2008 when both the housing market and stock market crashed simultaneously. Some just make this conclusion based on the saying “what goes up must go down” and expect the worst even after the recovery of the housing market.
In reality, the housing market is not really yoked with the stock market. It is not dependent on the movement of the stock market. Shelter will always be a basic commodity; something that people will always need and look for, regardless of economic status.
On the other hand, stocks are more of an investment in the ownership of a business entity, which not all people really do.
Both markets are influenced by the same factors like inflation and employment, but to varying degrees.
So if someone is thinking about whether the stock market will fall and if this should influence their decision to buy or sell Randolph County NC homes, they shouldn’t be too alarmed, especially now that land values have risen last year (the first annual gain in 8 years). This only means that the positive trend in the housing market looks like it will last a bit longer.
If you want to put up your Randolph County home for sale this spring, contact me. Regardless of the status of the market and season, I always have up-to-the-minute local neighborhood information ready for you.