Here’s a closer look at why real estate continues to remain strong.
There are two reasons why the real estate market is hot even though we are still in a pandemic and unemployment is still high:
1. Low interest rates
2. Low inventory
“It’s the perfect time to buy because of these low rates.”
If you look closer at the numbers, you’ll see that unemployment is only high in one or two industries. The hospitality and restaurant industries were completely decimated, but almost all other industries are doing just fine. Many people are working from home, and weekly earnings are still pretty high for most businesses. This gives many people the ability to purchase homes.
What does this mean for you as a buyer or seller? If you’re planning on buying, this would be the perfect time because of the low interest rates. The competition will be fierce, but it will be worth the purchase in the long run.
For home sellers, you can expect to get your home sold fairly quickly if it’s priced and marketed right. Keep in mind that the challenging part will be finding your next home.
If you have any questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
