Rising prices and stock market declines affect Gulf real estate
Uncertainty continues to plague the real estate market in the Gulf region in the midst of high Federal interest rates and a steady decline in the stock market.
Despite declining sales across the region, market analysts don’t think we’re in the buyer’s market locally — yet. “It’s clear we’re going through some kind of market correction,” said Patrick Carlisle, senior market analyst at Compass. “…the market may slow and adjust, but there are no economic indications now that there will be anything like the crash we saw in 2008.”