What Will Happen to the Housing Market This Year?
This is the question on everyone’s mind, whether you own or rent. When the economy will turn around is crucial to all our lives.
The National Association of Realtors (NAR) did a flash survey on May 7, 2020 and concluded from their results that “home sellers are gearing up to list their properties with the reopening of the economy.”
Sellers are positioning themselves to make moves this year. More than 3 in 4 potential sellers are preparing to sell their homes once stay-at-home orders are lifted and they feel more confident, which means more homes will start to be available for interested buyers.
Several realtors reported prospective changes in desired home features, with home offices, bigger yards and more space for their families becoming increasingly important.
Buyer demand is strong right now, and many are simply waiting for more inventory to become available so they can make a move.
While re-opening the economy may seem slow, it does not mean there is no pent-up desire for selling and buying a home. In fact, because our lives may revolve more and more around our homes, people are looking to make their residences as comfortable and efficient as possible.
So if you are a real estate agent, get out and find new listings and get new home buyers – they’re there!
And if you are a potential home buyer or home seller, hook up with a local, licensed Agent and take advantage of getting going before the crowds.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.