2020 Has brought new life challenges for everyone. We continue to hear stories, just like our own, of life in transition and of “new normals.” We continue to focus on health and safety and admire our culture of resilience. We appreciate each person on our team, navigating their clients’ needs during this pandemic and value the trust you continue to give us during this sensitive time. As we all move through COVID-19 and reach the midway point for 2020, many of us are doing research to better understand where our economy currently is, and what we foresee happening in the future.
Our current housing market is navigating a lower supply of available properties, a steady buying demand and historically low interest rates. The effect of lower interest rates has helped offset challenges buyers have faced in the housing market. With lower available inventory, sellers are able to maneuver with less competitive properties, placing buyers in a more competitive contract/offer atmosphere, placing your financing at center stage of your offer. Housing demands remain strong as the population of millennials continue to transition into homeownership, many citing the cost to rent being more expensive than home ownership. We have watched the housing market navigate this pandemic and rebound from economic shutdowns. There are still no clear predictions as to how persistent the coronavirus pandemic will be in the coming months of this year, or how long the economy will remain locked down.
As you move through though this year and pandemic, what are your housing market questions?
We have found that each individual we help has different unique circumstances and lending needs, and this pandemic has added another intricate layer. It’s important for you to connect with a licensed professional to better understand how changes around you can impact your personal financial homeownership goals and the only way to do that is to speak directly to someone about your specific wants and needs.
We are always here to help you navigate through each step of the process, which includes how this pandemic directly impacts your financial future. Education is very important to us and we pride ourselves on helping our clients understand the market and the financing process so they can make informed decisions.
Make sure you read our BLOG on: How Will COVID-19 Affect Home Values