This year has brought a significant number of shocks to us all socially and economically. Uncertainty reigns as we look to create familiarity in a changed landscape. As we grapple with social distancing, changed norms for social interaction, and changes in how we actually get work and play done, many of us are finding that the spaces we live in no longer fit the lifestyle we are evolving to.
After a quiet spring selling season, the summer of 2020 is shaping up to be a busy market. Mortgage rates below 3% are now being advertised regularly. Buyers are able to get more for their money than in any time in history. We are also experiencing a smaller refinancing boom among people homeowners who are reducing their monthly overhead.
Low rates and changing household needs combined with tight inventory are signaling a strong summer real estate market. And one where everyone is winning. Prices have remained strong buoyed by low inventory and low interest rates, a boon for sellers. Buyers are enjoying the greater affordability presented by low interest rates.
The real estate industry has been active in staying ahead of the curve in safety and marketing during the pandemic. Mandating safety precautions including masks early on, and limiting contact, while expanding the use of virtual and video tour technology. Open houses may not be back for a while, but virtual tours allow you to see homes from your couch.
If you have decided your current property no longer meets all of your needs, and would like to make a change, please contact me so we can talk about how to get you in a home that works best for you.