Each year, the combination of holidays and cold weather typically cause winter to be a slow season in the real estate industry. However, as with most events in 2020, the winter market may look a little different this year. National Association of Realtors’ (NAR) economists are predicting that this winter could be one of the best home sales years ever! Here’s why:
- Americans want bigger homes – after being stuck at home all year, many families are deciding that they need more space. As temperatures are set to plummet, people are realizing that it is not as comfortable to spend time outdoors and need larger homes.
- Low inventory – listing inventory remains low nationwide, giving sellers the opportunity to list their homes for more. The market is competitive, and buyers are feeling the pressure to make quick decisions when purchasing.
- Low interest rates – despite higher home prices, interest rates remain at record lows, and many buyers are realizing the need to take advantage.
For more information on the promising winter market, click here.
If you are interested in purchasing a new home or refinancing your current home this year, I would love to speak with you. Call me today to set up an appointment.Tags: Homebuying