Home Sales Hit a Record-Setting Rebound!
Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic. Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply. With mortgage rates hitting an all-time low, dropping below 3% for the first time last week, potential homebuyers are poised to continue taking advantage of this historic opportunity to buy. This fierce competition among buyers is contributing to home price increases as well, as more buyers are finding themselves in bidding wars in this environment.
Bottom Line
Buyers returning to the market is a great sign for the economy, as housing is still leading the way toward a recovery. If you’re ready to buy a home this year, reach out to a local real estate professional to make sure you have the best possible guide with you each step of the way.
source https://local.google.com/place?id=12403728615221682688&use=posts&lpsid=630294907497347470
No comments:
Post a Comment