Tuesday, June 8, 2021 / by Breanna Thornton
Hip Realty Group is flooded with buyer leads every single day. You’ve heard that the buyers are dominating the market, but why is this the case? There are a few reasons why so many people are looking to move and become homeowners.
1) New Home Needs
With Covid-19 changing so many lives last year, big house adjustments have become necessary. Lots of people are now working from home and need an office space in their house to accommodate. People are also looking for indoor gyms to avoid the monthly gym membership and have a more convenient workout. A different, larger backyard is also something people are searching for.
Image from HGTV
2) Low Interest Rates
While homes are selling for way over asking price in this market, buyers are saving a lot of money in the long run by purchasing now! With record low interest rates, the monthly mortgage amount will decrease dramatically, saving buyers money. Experts forecast that the interest rate will increase over the next year, so selling and relocating right now might be the best bet.
3) Great Seller Benefits
Many of the current buyers in the market are relocating because they were able to sell their home for a great price and FAST. Homes are flying off the market at record rates, which quickly turns these sellers into new buyers. With the help of the right real estate agent in the area you’re hoping to move to, you will be able to make competitive offers and move into your dream home!
There can be a small amount of frustration being a buyer right now with so much competition, and that is understandable. However, the agents here at Hip Realty Group are excited to help you find the right home and make it a reality! There really has never been a better time to buy a home. Have a Hiptastic day!
Header image from Heritage Home Loans