With recession fears making headlines again, it’s no surprise many are feeling unsure about whether now is the right time to buy or sell a home. In fact, according to a recent survey by John Burns Research and Consulting and Keeping Current Matters, nearly 7 in 10 people are putting real estate decisions on hold due to economic uncertainty.
But here’s what’s interesting: not everyone is waiting because they’re afraid. Some are holding off because they’re optimistic.
Why Some Buyers Are Waiting—And What They’re Hoping For
According to Realtor.com, close to 30% of surveyed buyers say a recession would actually make them more likely to purchase a home. Why? Because many expect interest rates to drop during a slowdown, making monthly payments more manageable.
And historically, they might be right—mortgage rates often fall during recessions. In fact, data from the last six economic slowdowns shows rates decreased every single time.
But here's the part most hopeful buyers in places like Tacoma, Bonney Lake, or Auburn might not be thinking about: just because rates drop doesn't mean home prices will, too.
What History Tells Us About Home Prices During Recessions
Many people still assume another downturn will cause prices to crash, like we saw in 2008. But that’s not the norm. According to Cotality (formerly CoreLogic), in four of the last six recessions, home prices actually went up.
Why? Because the housing market today is very different from the one in 2008. We’re not dealing with oversupply or loose lending standards anymore. In fact, even with more listings popping up across Puyallup, Des Moines, and Normandy Park, demand is still outpacing inventory in many areas.
So if you’re waiting for a market crash, it’s worth noting: experts don’t expect prices to fall significantly. As Robert Frick, Corporate Economist at Navy Federal Credit Union, puts it:
“Hopes that an economic slowdown will depress housing prices are wishful thinking at this point . . .”
So, What Should You Do if You’re Thinking of Buying or Selling?
If you’ve been eyeing a move in Sumner, SeaTac, or Lake Tapps, waiting for the “perfect time” might mean missing your window altogether. The right move is the one that aligns with your lifestyle, your needs, and your financial goals—not market guesswork.
And if you want personalized guidance on navigating the real estate market in your area, visit Your Real Estate Story to connect with someone who knows your local market inside and out.
