Should You Buy or Sell During a Recession? + Homes Coming to Market & More

Buying a House in a Recession? Here’s What’s Coming...

You’ve seen the headlines everywhere: “Recession looming,” “Inflation uncertainty,” and “Mortgage rate volatility.” Conversations at work, at the local coffee shop, or even around the dinner table probably sound similar: “Maybe we should wait until the recession hits before making a real estate move.” It’s understandable. On paper, recessions seem like they should bring falling prices and lower interest rates, creating the perfect conditions to buy or prompting urgency to sell quickly before values decline.

But here's the truth from someone who’s been through multiple market cycles in Metro Detroit: real estate markets rarely behave exactly as expected. Instead of making emotional or speculative decisions based solely on the fear of recession, it’s better to look at history, current data, and local market dynamics to truly understand what happens, and what doesn't, during economic downturns.

Quote of the Week

"When you have a dream, you’ve got to grab it and never let go."

-  Carol Burnett

Metro Detroit Weekend Events

This weekend, Downriver’s biggest summer celebration returns to Woodhaven Civic Center Park with the annual Uncle Sam Jam, running July 10–13. Headliners include rock acts Hinder, Queensrÿche, and a high-energy Queen tribute band. Alongside the live music, guests can enjoy monster truck rides, a carnival midway, a petting zoo, and a fireworks show. The event draws thousands each year and offers fun for all ages.

Blake’s Lavender Festival returns to Blake’s Orchard & Cider Mill for two weekends, July 11–13 and 18–20, offering one of Michigan’s most fragrant summer traditions. Visitors can stroll the blooming fields and pick their own lavender, browse an open-air market with over 200 local artisans, and sample seasonal treats like lavender lemonade, ice cream, and cupcakes. The festival also features hands-on workshops and DIY stations, making it a family-friendly event that blends relaxation with creativity.

The Michigan Celtic Festival takes over the Washtenaw Farm Council Grounds on July 11–12 with two full days of music, culture, and family fun. The weekend opens with live entertainment, jousting, a beer garden, and artisan demonstrations. Saturday adds high-energy pipe and drum performances, the Saline Fiddlers Philharmonic, and traditional Highland Games. Guests can also enjoy dance competitions, a carnival, food vendors, and activities for kids, making this a celebration of Celtic heritage for all ages.

Art in the Park returns to downtown Plymouth July 11–13, transforming the streets into one of Michigan’s largest open-air art fairs. More than 400 artists from across the country will showcase everything from paintings and ceramics to jewelry, sculptures, and folk art. The free event also features live music, vibrant sidewalk murals, hands-on kids’ activities, and interactive performances from My Adventure Theater, creating an immersive experience for all ages.

The Oakland County Fair returns to Springfield Oaks County Park from July 11–20 with nonstop family fun and grandstand thrills. This year’s lineup includes an off-road derby, micro wrestling, a rodeo, and monster truck displays. Visitors will also find carnival rides, games, a petting zoo, live entertainment, and a variety of classic fair attractions. Admission is $15 per vehicle or $10 for walk-ins, with carnival ride wristbands available for $35.

South Lyon Pride in the Park returns for its fifth year on July 12 at McHattie Park, celebrating inclusivity with a full day of family-friendly fun. The event features vendor booths, food trucks, live entertainment, music, and a wide range of kids’ activities, creating a welcoming space for the entire community to come together in support and celebration.

Hippie Fest in the Village brings a weekend of peace, love, and retro vibes to Canterbury Village on July 12–13. Guests can shop from vendors offering handmade jewelry, vintage-inspired clothing, and groovy crafts, all while enjoying live music, tarot readings, and eclectic entertainment. This colorful celebration invites all ages to embrace the spirit of the ‘60s and ‘70s in a fun, family-friendly atmosphere.

If you're looking to buy or sell a home in Metro Detroit, The Perna Team can help you. We're fast, friendly, and have served thousands of families in the Metro Detroit area with their real estate needs. Click below to start viewing what's available in Metro Detroit today, or reach out and find out what your home is worth on today's market!

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