Considering the pandemic and the overwhelming sense of uncertainty it’s caused, many
homeowners have been wondering if right now is still a good time to sell. The answer is: YES! We prepared a list with a few of the top reasons why selling your home through the end of 2020 could actually work in your favor!
1. Home buyer demand is making a come back
When Coronavirus first struck the U.S. in the spring, home selling quieted down because of the
lack of open houses and enforcement of quarantine in most areas. Now that more states are
repealing their lockdowns and businesses are opening up, the real estate market is also
beginning to rebound. As we continue to have a growing work-from-home status amongst most
industries, people are engaging with more real estate in order to find a place where they can
fulfill both their work and home lives.
2. Supply and demand is working in your favor
Since last year, there has been a shortage of home inventory, and the numbers
have fallen even lower due to COVID. With the supply low and a number of “pandemic buyers” keeping the demand high, homes are selling in record time and at their most competitive price.
3. Mortgage rates are still low
Over the past year, mortgage rates have become historically low and continued to slide. This
means that a home could be thousands of dollars less expensive for the time span of the loan.
While the curve may have flattened out for now, rates are still low; thus, increasing buyer demand.
4. Homeowners have new needs
As mentioned before, with work-from-home mandates across the country, some are
finding that maybe their home isn’t suitable for both work and home life. Many are looking to
move out of crowded city life and into properties with possible office space, outdoor areas, privacy, and close proximity to recreation. As this continues, more Americans across the country will begin looking for a home that is better equipped to accommodate their family’s needs, and the demand for real estate will continue to increase.