COVID-19 has radically changed our world, and its impact on the housing industry is no different. From increased demand to changing home buyer preferences, the pandemic has transformed the real estate market. The good news is that after a year like no other, the real estate industry is still thriving – and with Spring around the corner, it’s already beginning to heat up.
With 2020 behind us, it is time to look ahead. With a Covid vaccine and an improving economy on the horizon, things are looking up for the new year. The real estate market remains strong, with new construction trying to keep pace with demand. While equity continues to grow for homeowners, buyers still have the opportunity to take advantage of record-low mortgage rates.
With 2020 behind us, it is time to look ahead. With a Covid vaccine and an improving economy on the horizon, things are looking up for the new year. The real estate market remains strong, with new construction trying to keep pace with demand. While equity continues to grow for homeowners, buyers still have the opportunity to take advantage of record-low mortgage rates.
With hope on the horizon, December brings the promise of a potential return to normalcy. It is time to celebrate achievements and relationships while remaining vigilant and cautiously optimistic for the future. The same sentiment applies to the current real estate market, as it has remained strong throughout the pandemic for sellers, but presented some challenges for buyers.
Even in the midst of a worldwide pandemic and uncertain times, we can be grateful that the housing market continues to be a source of financial stability and growth. Not only have existing home sales surged to levels not seen in more than 14 years, but the median price of existing homes is nearly 15%… Read More »
Typically buyer activity levels off in October, but due to lower inventory levels this year we are continuing to see strong buyer activity that is favoring home sellers. While buyers are enjoying historic lows for mortgage rates, inventory has shrunk due to the fact that people aren’t wanting to move during a pandemic. This has… Read More »
One thing for sure is that September 2020 will be a memorable month for all, especially for those with kindergarten to college-aged children returning to school in new and different ways. Let’s hope that this month will also bring some welcome winds of change for the better – not only in temperatures! The housing market continues to… Read More »
Typically August is the best time of the year to buy a house. There’s usually plenty of inventory, and it’s the time when sellers are lowering prices before fall begins. Suffice it to say, 2020 is unlike any typical year we have ever seen before – all the way around. What’s different this year is… Read More »
Initially the most exciting day in residential real estate is going under contract on a house your buyers love, but if you make it to closing day, that’s truly the most exciting day! The house has been fully investigated, repairs negotiated, loan terms fulfilled, but quite possibly in this wild Raleigh area market there have… Read More »
One issue that can derail a home purchase very quickly is the presence of termites. Neither a buyer or a seller wants to hear that word. Recently the BMRG has run across more termites than we would like to see and we’ve also seen an increase in discussions on our own neighborhood message boards regarding… Read More »