lowestinventoryin30years: How future inflation can affect home prices
- 04/30/21 01:30 PM
First off, I want to let everyone know that no matter what you read about doom-and-gloom scenarios, currently there is no bubble in the real estate market. I have conveyed this many times: Our inventory is at a historically low level. However, the No. 1 reason that prices went up to high single and double-digit percentages in 2020 was the Covid-19 pandemic as well as the lowest mortgage rates in 50-plus years adding to the feeding frenzy of purchasers. Also contributing was the temporary shutdown of our markets and then the insane pent-up demand that exploded in buying homes during the second … (0 comments)
lowestinventoryin30years: All Things Real Estate: Home prices surprisingly strong in pandemic
- 08/30/20 08:47 AM
Have you noticed that real estate prices year-over-year have increased, regardless of our most serious Covid-19 pandemic calamity for almost the last six months? You would have thought that prices would have gone down, right? And the demand would have decreased. Well, we did have a cooling-off period from March 22 to June 9 when Realtors (and the public) legally could not go out but could do virtual tours and videos to connect with purchasers while some actually bought w/o physically entering the premises. Most important, prices did not decrease, but sales year-over-year were less. The reason being lack of and historically … (2 comments)
lowestinventoryin30years: Why aren't you looking to purchase in this historic time?
- 08/11/20 03:34 PM
If you’ve been a regular reader of my weekly column as well as other periodicals, you should be well aware by now of how low our housing inventory has been and probably will continue to decrease further (and the many reasons why) as long as the demand and historic low-interest rates continue on the path that they have taken. Even with the current pandemic and overwhelming spiking infection rates in 41 states, the strong desire of the smartest and financially capable purchasers is to continue looking. They have realized the opportunity at this special moment in time in searching out and … (0 comments)
lowestinventoryin30years: Why are owners staying in their homes longer today?
- 07/22/20 08:21 AM
The demand from purchasers in buying homes has been growing in strength and there is no end in sight and bidding wars have become almost the norm, especially from those that have been in rentals. I have been conversing with many buyers and they want to take advantage of the historically low-interest rates and the lower cost per month to purchase making it more affordable and are willing to provide higher offers and move out of their current rental (or parents home) into an ownership position. Many are looking at the long term (not the short term) in building equity … (2 comments)
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First off, I want to let everyone know that no matter what you read about doom-and-gloom scenarios, currently there is no bubble in the real estate market. I have conveyed this many times: Our inventory is at a historically low level. However, the No. 1 reason that prices went up to high single and double-digit percentages in 2020 was the Covid-19 pandemic as well as the lowest mortgage rates in 50-plus years adding to the feeding frenzy of purchasers.
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