Winter Will Bring a Flurry of Activity to the Housing Market!!

Dated: November 13 2020

Views: 257

Winter Will Bring a Flurry of Activity to the Housing Market

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

The typical winter slowdown in the housing market is simply not on the radar. Here’s why.

While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent articleBankrate explained:

“If you’re looking to buy a home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.”

As long as we continue to see low interest rates, we’ll see hopeful buyers on the hunt for their dream homes. Yun confirmed:

“The demand for home buying remains super strong…And we’re still likely to end the year with more homes sold overall in 2020 than in 2019…With persistent low mortgage rates and some degree of a continuing jobs recovery, more contract signings are expected in the near future.”

The challenge, however, is the lack of homes available for sale. With that in mind, all eyes are on homeowners to see if they’ll sell this winter or wait until spring. Danielle Hale, Chief Economist for realtor.comsays it’s best for sellers to capitalize on this moment sooner rather than later:

“We currently see buyers sticking around in the housing market much later than we usually do this fall. If that trend continues, we will see more buyers in the market this winter, too. So, this winter is likely to be a good time to sell.”

With buyers ready to stay active this winter, sellers who want to close a deal on the best possible terms shouldn’t wait until spring to put their homes on the market.

Bottom Line

Experts agree the winter housing market could potentially be bigger than ever. Whether you’re ready to buy or sell, contact a local real estate professional today so you can be in your dream home by the new year.

Written by: KCM Crew

Blog author image

Jeremy Cupp

As a John Maxwell Certified Coach, Teacher, Trainer, and Speaker, I can offer you workshops, seminars, keynote speaking, and coaching, aiding your personal and professional growth through study and pr....

Latest Blog Posts

Top 7 Common Home Inspection Findings

Whether you’re a first-time buyer or not, purchasing a new home is an exciting accomplishment. It can also represent a lot of work and a serious investment, hence the importance of hiring a

Read More

Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand

Real Estate: It’s Still a Lack of Supply, Not a Lack of DemandOne of the big questions real estate professionals are asking these days is whether prospective homebuyers still believe

Read More

Renting in 2021

In many areas across the country, according to recent data from realtor.com, median rental prices have reached their highest point ever recorded. Rents increased by 8.1 percent from the same time

Read More

SIX THINGS HOME BUYERS NEED TO BE AWARE OF IN TODAYS MARKET

Six Things Home Buyers Need To Be Aware Of  In Todays Market. But with help from 12 Stones NWA Brokered by eXp Realty Rogers we are here to walk you through them all!“Let the buyer.&

Read More