Is the current market a housing recession or just a market correction? The housing market is certainly giving off a lot of mixed signals. If you’re a pessimist, you can find plenty to keep you up at night. If you’re an optimist, there are plenty of silver linings. That leads experts to guess about what’s ahead. Is there a housing slowdown? There is widespread consensus that the housing market has experienced a drastic drop-off in activity since the heights prompted by the pandemic. Greg Phillips, chief technology officer of real estate startup Houwzer says that the slowdown will continue, with moderate price declines for about 18 months. The housing market is not like the volatile stock market, always going up and down; the housing market moves at a different, slower pace. Millions of buyers still want and need to purchase homes, though some buyers are pulling back in the face of limited affordability, increased mortgage rates, and overall economic uncertainty. Buyers, sellers, and real estate agents are already adjusting to the slowdown, The market simply could not, and was never expected to, grow at such a fast pace indefinitely. Whether this trend will continue long enough for the market to enter a true ‘recession,’ or if this is simply the start of an expected ‘correction’ to historic norms, still remains to be seen. However, experts agree that if the market does indeed stabilize at, or near the current levels, it would be considered a ‘correction’ and not a ‘recession’. Connect with me on Instagram @ amanda_bolwell, for regular market updates For more information visit or call Amanda (904) 613 9818