As economic indicators from the stock market to the real estate market continue to feel the effects of COVID-19-related shutdowns, the question of economic recession has become not so much a matter of “Will it happen?” as “When will it happen?” While in classic terms a recession is only official after two quarters of declining economic growth, the current uncertainty makes a recession likely, if not inevitable.
At the same time, real estate listings are still going on the market and fielding multiple offers. Virtual showing platforms have experienced exponential growth. In short, the buying and selling of real estate continues apace, with many agents facilitating an end-to-end, contact-free experience to ensure their clients’ safety and comfort.
Whether you are a buyer looking for a new home or a homeowner considering listing your home, it’s important to make smart decisions now in order to weather whatever comes next. Here are some ways to ensure that your home is a financial asset and not a liability as we enter the new normal.
Prioritize equity building
Read more: Creating a Recession-Proof Home