Real estate is doing very well right now; should you keep your plans on hold?

Is your life currently on hold because of the pandemic? Should you continue to keep your real estate plans on hold? As an industry, real estate is at an all-time high. There are three main reasons why so many people are taking advantage of the opportunities in today’s market despite the ongoing health crisis:

1. Interest rates are at all-time lows. Some rates are well below 3%, and homebuyers are taking advantage of this opportunity to get lower monthly payments for the home they want. When the coronavirus abates, consumer confidence increases, and the economy stabilizes, interest rates will likely rise. Consumers know to get a great rate now before that happens.

2. Home values are higher now than they’ve been in a long time. Many homeowners are wanting to take advantage of their higher equity positions to achieve the lifestyle they desire.

3. COVID has prompted people to evaluate their options. Working and/or schooling kids from home has made many people realize they need more space. Either that, or they’ve discovered the floorplan or flow of their home isn’t quite suiting their family’s needs like they thought it was. Also, some people are relocating to be closer to family or friends during this difficult time.

“Real estate is at an all-time high.”

So if you’re questioning whether you should be making a real estate move in the middle of COVID-19, contact us via phone at (651) 998-9829 or email today so we can help you evaluate your options. We want to ensure you make the right decision for you and your family. We look forward to hearing from you.

Written by Shelly Holz on October 26, 2020.