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Today, we'll discuss what the stock market correction means for the real estate market here in Charleston.
Over the last couple of days, the stock market has seen its biggest drop since October of 2008, down 6.6%. These losses are real, and they're making people uneasy.
However, stock market corrections do not necessarily mean a housing correction will occur.
The good news is that Charleston's economy is still growing. Volvo is coming to South Carolina, and Boeing is expanding its company base.
The silver lining for real estate is that interest rates have dropped slightly, and the September increase in interest rates has been put on hold. All in all, it's still a great time to buy in Charleston.
Although we don't know what the long-term effects of the correction will be, just remember that no one ever got rich by panicking. If you have any questions, give me a call or send me an email. I would be happy to help you!
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