Recently there has been some talk about the real estate market reaching a bottom. I think it’s premature to make that statement.
To give you some perspective I recently came across this picture that shows U.S. home prices as tracked by Case-Shiller, shifting on a month-over-month basis since 1975. This is a powerful visual showing both the longevity of the last market shift, and the brevity of this one. You can also see that shifts don’t follow linear patterns and often have brief moments of relief before falling again later.
No one knows what the future will hold but I want to remind you again:
It doesn’t matter what the market does.
Your ability to succeed in this market is entirely determined by your actions. This is good and empowering news because it means you are in control of your results!
I’m not minimizing the challenges this moment in time presents. There are many and as I’ve written before, they can be exhausting. Though since when was this business easy?
Bottom line, let external conditions guide you to take appropriate actions and remember you’re playing a long game with a focus on a great career.