Offered by: Scott and Lora Nordby – Berkshire Hathaway HomeServices
As we closed out 2020 in the Real Estate market, we saw that despite being a very difficult year for many, home sale prices and home sales ended with record highs again. We saw many families and individuals look to suburban areas and areas further out because of an increase in remote working. We also saw an interest in bigger homes, due to the fact there were more people working from home. Millennials also continued to enter the market, accounting for nearly 33% of home buyers.
Key impacts going into 2021
Many first-time homebuyers had to put o purchasing due to a global pandemic and low inventory, so a lot of these same home buyers will be looking in 2021 to purchase. This, along with record low-interest rates right now and the remaining lower inventory will spell out a seller’s market and increased sales again.
Many experts and economists are expecting home prices will rise by 3%-5% and sales by 7%, therefore bringing another strong housing market in 2021.
The Rental Market
Renting is still very much in high demand. While interest rates are low for people that can afford to buy a home, there are still a lot of renters in the metro area. If you don’t want to leave your home, but you’re interested in an investment home, now is a good time to talk to your REALTOR® about your goals.
Start Your Move NOW!
With the peak season starting now, if you’re considering buying or selling a home this year, it is a good idea to talk to a REALTOR® who can give you the information you need to help make an informed decision. From determining your goals to finding out the value of your home, a REALTOR can get you on your way to capitalizing on the outstanding real estate market conditions. If you need help or have any questions, contact us today at 303-905-8850 or scott@InnovativeRE.com visit us at www.InnovativeRE.com