Are You Thinking Of...?

By
Real Estate Agent with KW Evolution - Topsfield, MA 92593-B

I think after the 1st of the year, this year, we all went to bed and while we were sleeping some alien force teleported us to Bizarro World where things are not anything like we are used to!

Who would have thought that during a "worldwide" health crisis, where economies and people were locked down, and people suddenly became unemployed, and businesses closed OR, where business was transacted over ZOOM, GoToMeeting, BlueJeans, or any of those streaming services, just who would have thought that many, many Real Estate professionals would have a banner year? Even in States where Real Estate was considered nonessential!

This goes to show that the buyer pool is ALWAYS filled with buyers. Prices are rising, YET interest rates are low, low, low! One of my relatives just refinanced their home and locked in a 2.75% interest rate. 

If you are thinking of selling, don't hesitate. Just hire a professional Realtor® and get the ball rolling! 

Enjoy the article from KCM.

 

Homebuyer Demand Is Far Above Last Year’s Pace

Homebuyer Demand Is Far Above Last Year’s Pace

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.

According to the Pending Home Sales Report from the National Association of Realtors (NAR):

Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.

The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 5.9% to 122.1 in July. Year-over-year, contract signings rose 15.5%. An index of 100 is equal to the level of contract activity in 2001.”

This means that for the past several months, buyers have signed an increasing number of contracts to purchase homes – well above where the market was at this time last year. Lawrence Yun, Chief Economist at NAR notes:

“We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing marketHome sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”

Below is a graph that shows the impressive recovery of homes sales compared to previous years. The deep blue v marks the slowdown from this spring that turned into an exponential jump in sales that followed through the summer, skyrocketing above years past:Homebuyer Demand Is Far Above Last Year’s Pace | Keeping Current Matters

What Does This Mean for Sellers?

If you were thinking about putting your house on the market in the spring, but decided to wait due to the health crisis, it may be time to make your move. Buyers are in the market right now. With so few homes available to purchase, homeowners today are experiencing more bidding wars, creating an optimal time to sell.

Is This Trend Going to Continue?

As CNBC notes, there are no signs of slowing buyer demand this fall:

The usual summer slowdown in the housing market is not happening this year. Buyers continue to show strong demand, spurred by the new stay-at-home world of the coronavirus and by record low mortgage rates.”

Danielle Hale, Chief Economist at realtor.com, concurred:

“In a typical year in the housing market, buyer interest begins to wane before seller interest causing the usual seasonal slowdown as we move into the fallDue to a delayed spring season and low mortgage rates, we could see buyer interest extend longer than usual into the typically quieter fall. Whether this means more home sales will depend on whether sellers participate or decide to stay on the sidelines.”

As Hale mentioned, homeowners who are willing to sell their houses right now will play a big role in whether the trend continues. The market needs more homes to satisfy ongoing buyer demand. Maybe it’s time to leverage your equity and move up while eager home shoppers are ready to purchase a house just like yours.

Bottom Line

If your current home doesn’t meet your family’s changing needs, contact a local real estate professional to help you sell your house and make the move you’ve been waiting for all year.

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

Comments (25)

Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Will Hamm 

Amazing what Zoom and others have done to business attire, isn't it? 

Sep 12, 2020 09:07 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Doug,

One moment at a time in focus each time is exactly our mantra.  We are busy planning marketing campaigns for next year...A

Sep 12, 2020 10:42 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Are you being directly affected by the wildfires Ron and Alexandra Seigel 

I hope all is ok

Sep 12, 2020 11:01 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hi, Doug!  Yes, this is indeed the weirdest year in recent history.  And I sort of thought the same thing of 2019!

Sep 12, 2020 12:23 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Doug Dawes ,

Great title and 2020 is shaping up to be the most bizarre year I've ever lived through. The good news is people have to live somewhere and thankfully we are in the real estate business that can help buyers find a home and sellers sell their home.

Sep 12, 2020 04:54 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Doug- for sure...who would have thought that this year with all of the crazy things going on real estate would be so hot. 

Sep 12, 2020 04:59 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Doug what a powerful message and great post, well our Governor first thought we were Non Essential then it dawned on him that we generate the most taxes for the State and Local Municipalities... so with that said he changed his stance...well you know typical politician:))Endre

Sep 12, 2020 06:59 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - There's lots of thought provoking going on in this post. Why? Why? Why, oh why hasn't this one been featured? It's VERY relevant to Real Estate and isn't that what ActiveRain is all about?

Good job, Doug!

Sep 13, 2020 01:54 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

2019? Really? This is the strangest year I can remember Patricia Kennedy  I hope the rest of the year is better

Sep 14, 2020 02:37 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Dorie Dillard CRS GRI ABR 

I know in our office in Newburyport many agents are having a banner year.

Sep 14, 2020 02:39 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Kathy Streib 

It's definitely a year to remember and I think there are even more remembrances to add to it

Sep 14, 2020 02:40 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I know it well Endre Barath, Jr. Here in MA RE professionals were first declared nonessential then the Governor changed his mind. Since then it's off to the races. Of course, MA has the highest unemployment rate in the nation  at over 16%

Sep 14, 2020 02:42 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Patricia Feager, MBA, CRS, GRI,MRP 

Thank you for your kind words. I do hope that you are doing well 

Sep 14, 2020 02:45 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - Thanks for your concern. Compared to many others, I am doing well. May you be blessed with good health and happiness.

Sep 14, 2020 04:44 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Patricia Feager, MBA, CRS, GRI,MRP this is good to hear. Came back from my appt. with the VA doc who was very happy with my lab work numbers. Then they politely coerced me into a flu shot sayin' "Well Doug, you ARE 72 you know? AND in the category of elderly with underlying conditions!" I laughed and just told them to do it if it would get them off my back...lol

Sep 14, 2020 10:34 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - You did a good job and you made your VA doc happy too! Congratulations! 

So, you were coerced into getting the flu shot. You are BRAVE! I have never had a flu shot and I never had the flu. I'm counting my blessings and praying I don't get it ever. 

May you be strong and healthy. I salute you and your bravery! 

 

Sep 14, 2020 04:39 PM
Doug Dawes

I'm getting older, I guess. My wife works me over about getting it and the VA is learning to back off a bit but still strongly encourage me...lol

Sep 22, 2020 12:50 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Homes in our community are selling very quickly. And, the demand exceeds the supply.

Sep 16, 2020 11:24 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Doug would you believe California believe in the same thing essential/ non essential.... in the big picture we contribute to 27% of the nations total unemployment so between MA & CA we are doing a great job to hurt the rest of the country:)Endre

Sep 18, 2020 11:02 PM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Roy Kelley this pretty much the same scenario around the country

Sep 21, 2020 02:37 AM
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

It's really very disturbing that CA & MA are not opening up quicker and causing such pain in the economy Endre Barath, Jr. 

Sep 21, 2020 02:38 AM