In this economy, especially at the height of the pandemic, stocks and cryptocurrency are down at moment. What does that mean in the real estate market? Let's all find out in this week's Real Estate Market Report.
The housing market appears to be one of the formidable markets someone can invest in at this moment. With that said, here are my tips for the home buyers and sellers right now:
I would recommend continuing with the home search for a long-term investment. I've been telling this since last month -- a lot of the sellers right are taking in multiple offers and are well-accommodating to buyers due to the very strong market in the DMV area. Since there are a lot of buyers at the moment, I'd recommend finding a realtor with lots of experience and willing to work with your needs and desires to find a good home.
Since the housing market is still very strong compared to the other sectors of the economy right now, it's highly advised to keep the sale open as a lot of the buyers are willing to cooperate. If you're still doubting if you should sell your home, take this as a sign to list your home now, and maybe negotiate a rent back if you need to.
Gone are the days where interest rates are at less than 3% -- we are seeing interest rates at low to mid 3% at the moment, and should be the new normal for the housing market. It's still a low-interest rate if we're going to compare it over the past decade, and so it's a great time for buyers to take advantage of it, and for the sellers to keep listing their homes as there will be a surge of buyers due to the relatively low rates.
Interested in buying or selling a home in the DC Metro Area? Let's talk! Call me at (703) 625-4949 or visit my website at www.RituDesai.com for more. Make your move today!