All eyes are on the American economy! There seems to be a growing consensus that the housing market is going to be the driving force to get the ball rolling. Based on the latest home sales from the National Association of Realtors, June 2020 was a record setting month. This is likely to ignite that spark for our economy.
With mortgage rates hitting an all-time low, dropping to BELOW 3% for the first time last week, potential buyers are wanting to take advantage of this historic opportunity to buy. This competition among buyers is contributing to home price increases as well as, more buyers finding themselves in a bidding war. It is key to have an experienced agent working on your behalf right now to maneuver through these tricky multiple offer situations.
Buyers returning to the market is a great sign for the economy. If you’re ready to buy a home this year, reach out to us now so we can get you prepared!