The market has started to correct itself: house hunters say they are ready to buy in the next six months, even in a recession. Here's why!

Is the economy in recession?
30 year mortgage rates close to 6%? No matter - some apartment buyers still plan to buy a house in the next six months, according to a new survey.
According to the Realtor.com survey, which looked at visitors accessing listings as well as search results, nearly 46 percent of homebuyers surveyed said they plan to continue buying a home in the next six months, even as recession fears weigh on potential buyers.
This is higher than the proportion of buyers who planned to buy in July 2019.
This is even though mortgage rates have reached their highest level since 2008, and when high apartment prices continue to hold.
Data from the survey shows that "some homebuyers are finding the upside in the form of cooling competition," Danielle Hale, chief economist at Realtor.com, said in a statement.
With inventory levels rising, and options available in smaller, more rural markets, "this fall can bring relatively better chances of finding a home within the budget," she added.
Two in five shoppers believe the US economy is already in a recession. But 42% of respondents said the recession "will have no effect" on their decision to purchase an apartment.
In fact, around 27% of shoppers are more likely to buy during a recession. That's up from 24.7% last year.
But the market is also made up of buyers who are very frightened by the current conditions. The share of buyers who say they are much less likely to buy now in a recession has risen from 5% last year to 6.5% this year.
"The share of buyers reporting being overbid on a home has declined as the market has begun to correct itself," Realtor.com said.
About half of buyers also said they were looking to buy in a small town or rural area.
But it is still difficult to buy a house for some.
First-time buyers face some problems when it comes to buying a home: more than 12% reported a higher price offer.
Two out of five first time buyers also said that their budget is a challenge in the home buying process.
The median U.S. home price nationally was $435,000 in August, Realtor.com said. That's down from the all-time high of $450,000 in June.
About 20% also said that their credit rating "interferes" with their buying plans. (This compared to 9.5% of all buyers).
Nadlan Invest follows you all the way personal accompaniment in real estate transactions directly from experienced real estate ventures.