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What Should We Expect for the Rest of 2020?

Tuesday, October 6, 2020   /   by Breanna Thornton

What Should We Expect for the Rest of 2020?

It’s no secret that with the corona virus still making headlines around the world that it is affecting our lives every day. But what does this mean for buying or selling a home? Is it a smart move to buy a new house with all that’s going on?

The short answer is: YES!! There has never been a better time to buy a home and make it your own.

(Graphic from Keeping Current Matters)

This graphic shows the interest rate throughout the past several decades. With today’s interest rate at an all time low of 2.99%, there is a fantastic opportunity for homebuyers. 

Looking Forward

“The real estate market is forecasted to finish 2020 with growing strength.” 

Even with all of the chaos and hurdles in the country right now, homeownership rates have actually risen. Despite Covid-19, the housing market is continuing to improve as Americans work towards buying and selling homes.

Along with that, Freddie Mac, Fannie Mae, NAR and the MBA all predict home sales to increase significantly as 2021 approaches.

There may be many different challenges for all of us with the pandemic, but homeownership doesn’t have to be! We can have confidence in the real estate market throughout the rest of this difficult year.

It’s always hip to buy a new home! Get started today!

Header image from the MLS