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Housing availability during a recession?

Wife and I are hoping to be in good position to buy our first home by the end of the year, between increased savings from recent job moves and a possible down payment gift portion from family. Lots of “ifs” here but I am curious —

Seems like there’s a decent chance of the economy moving into a recession. That would be manageable for us (with all due sensitivity for those who would be facing job loss) as our roles and industries are very secure. My question is, during a recession, should we expect the number of available homes to decrease as folks try to ride out the downturn rather than selling low? We live in a HCOL area on the east coast.

To be clear I’m not COUNTING on a recession, just wondering how that would affect availability.

submitted by /u/considertheoctopus
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source https://www.reddit.com/r/RealEstate/comments/uemolx/housing_availability_during_a_recession/
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