This Winter Will Be the Hottest Yet!

No, we’re not talking about climate change — we’re talking about the housing market! Winter is typically the slowest period in real estate because of the weather and the holidays. But record-low interest rates and buyer demand are shaping up to make this season one of the best yet. Let’s take a look at why the coming months are going to be a great time to buy or sell a home.

Demand is high

People want homes — it’s a fact. While buyers may have initially backed off in the first few weeks of the pandemic, they’ve come back in full force. That’s why the spring housing market, which is usually the busiest, was quieter this year. Instead, those buyers are in the market now. And if we’re facing more lockdowns in the coming months, people want the peace of mind of knowing they’re safe in their new home. In addition, many homeowners are finding they’re ready to upsize, due to the increased number of activities we’re doing at home, including working and attending school. We don’t expect to see any slowdown in the market over this winter season.

Inventory is low

Another element that’s fueling this hot winter market is low inventory. There aren’t enough houses for sale to meet the demand. In fact, we’re experiencing a record low in inventory. That makes this an unbeatable time to put your home on the market. While most sellers tend to shy away from listing in the winter months due to lower demand, that isn’t the case this year. Don’t let the winter season stop you from listing your home. In fact, you may be surprised by just how quickly your house sells.

Mortgage rates are low

We’ve said it before and we’ll say it again — mortgage rates are at record lows and are forecast to stay that way for the foreseeable future. Buying a home right now is more affordable because this reduction in interest rates could save you tens of thousands of dollars over the life of your loan. The low rates are also inspiring current homeowners to upsize because they can essentially get more home for the same price. While competition can be fierce for buyers, this is still a great time to buy a home if you’re able.

Home values are rising

Finally, home values continue to hold steady and are even increasing in many areas. Though the economy is taking a hit right now with high levels of unemployment, people are still buying homes. When demand is high and inventory is low, house values tend to increase. If you’ve been waiting to list because you want to get top dollar on your home, then now is the time. We’ve got a perfect storm of conditions that are making this winter housing market the hottest it’s ever been, and it’s time to get in on the action.

Contact Agent inc. today!

Are you ready to start making your real estate dreams a reality? Whether you’re buying or selling a home, contact the experts at Agent inc. at 949-791-8160 or [email protected]. We are standing by to answer all your questions — let’s open your world to new possibilities!