Low Interest Rates = Spiked Home-Buying
April 30, 2021 – While springtime is often regarded as the best season to sell for several reasons, this spring’s numbers have far surpassed average seasonality trends. With far more buyers than sellers in the current market, homes are selling at a stunning rate, frequently above the asking price, and with other favorable terms such as no inspections and free rent back periods for the sellers. In addition, they are likely to receive multiple offers.
Several factors have caused the demand for homes to spike so dramatically. Despite predictions that the Covid-19 pandemic would tank the housing market, the opposite has proved true. Instead, record low interest rates encouraged many to purchase homes, while the inventory of homes for sale has remained low. Similarly, the number of people working from home who anticipate continuing to do so has grown immensely, inspiring them to seek bigger houses that include home-office spaces.
Many predict that the current market conditions will hold well into the future, at least through the remainder of 2021. The moral of the story is: if you are holding out for the “best” time to sell your home, don’t! Go ahead and list it!
Give me a call, 410.404.3889, and we will sell your home quickly and at an incredible price!