Economic Recovery
The pandemic’s effects on businesses across the country have understandably led to slowed economic activity, but we’re already seeing signs projections of a recovery in the second half.
Higher Buyer Demand
According to Freddie Mac, “Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009. Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood.” This “buying mood” combined with low inventory is driving an increasingly competitive market with sellers in the driver’s seat. On top of that, growing equity is allowing many homeowners to sell for an increased profit, and then reinvest their earnings in a new home.
Low Inventory
If inventory was low before the health crisis, it’s hit rock bottom. Understandably, many of those who were thinking of selling this year have put their plans on hold, with fear of the market’s future and the safety of their family top of mind. But equity is growing. Home values are appreciating. And economists are forecasting that real estate will not only finish 2020 strong, but growing in strength.
Call me today with any questions or concerns you have with our current housing market. I think it is important to educate consumers on housing.
source https://local.google.com/place?id=12403728615221682688&use=posts&lpsid=1935792616302580629
No comments:
Post a Comment