Over the last couple of years, the housing market has been on a historical rise. Houses sold at record highs, record pace and renovations to houses have been completed left, right and centre. Now that inflation is digging its claws into everyone’s wallets and interest rates are moving at paces we haven’t seen in over 20 years, there has been a huge slowdown in the residential housing market. This slowdown has come in the form of everything: price, home sales and renovations. Is this the end of the housing market? Most likely not. Maybe there is a correction, maybe it just flattens out or maybe it continues to move higher. People will need time to digest the rise in rates to combat inflation and see where they stand. For most people their largest assets is there house and for the first time in a while, they are seeing the value of that house fall. It is imperative for everyone to know where they stand. If you would like to have a financial consolation or discuss completing a customized financial plan to see how your financial situation has been affected in the last 7 months, please let us know and we’d be happy to help.

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