New Year, Same Market

The anticipation is here. As we continue to see the rise in cost of living we all can’t help but to wonder do we have an recession approaching. As many of us have heard Zillow has stopped buying homes for the rest of the year and have laid off hundreds of their employees. So what does that mean for the us? Do they know something that we don’t know? Should we be gearing up? These are all questions that us consumers have but yet haven’t received any answers. No one knows for sure, all we can do is wait and see how the market pans out. In most areas if not all this is still a sellers market. Homes are still selling over asking price, which is causing bidding wars.  

Interest rates are still low as we see at a rate of 3-3.5%. So are people overpaying at a time like this? Some say yes and others say no. Either way Real Estate is a great investment and that’s what it does goes up and down. It’s almost never a bad time to buy especially if it’s for you and your family. Now if your investing, then you may want to wait until it’s a buyers market. “From the highest of high prices to the lowest of low numbers of homes for sale, there’s no denying that the COVID-19 pandemic upended the nation’s real estate market.” Although it seemed like 2020 was never ending 2021 approached us and now has left. “In a continuation of what we saw last year, the demand for housing in 2021 shot up while the inventory of homes for sale shrank. The number of home listings is down 41% so far this year compared with the same time a year ago, while listing prices rose 11% nationwide, Realtor.com data shows.” Hold on tight because it looks like cost of living will continue to rise for a bit!

– Aubriah

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