In the second half of this year, the housing marketsurgedwith activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun,Chief Economistfor theNational Association of Realtors(NAR),notes:
“It will be one of the best winter sales years ever.”
The typical winter slowdown in the housing market is simply not on the radar. Here’s why.
While today’s historically low mortgage rates are expected to remain low, they won’t bethis lowfor much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recentarticle,Bankrateexplained:
“If you’re looking to buy a home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.”
As long as we continue to see low interest rates, we’ll see hopeful buyers on the hunt for their dream homes. Yunconfirmed:
“The demand for home buying remains super strong…And we’re still likely to end the year withmore homes sold overall in 2020 than in 2019…With persistent low mortgage rates and some degree of a continuing jobs recovery, more contract signings are expected in the near future.”
The challenge, however, is thelack of homes available for sale. With that in mind, all eyes are on homeowners to see if they’ll sell this winter or wait until spring. Danielle Hale,Chief Economistforrealtor.com,saysit’s best forsellersto capitalize on this moment sooner rather than later:
“We currently see buyers sticking around in the housing market much later than we usually do this fall. If that trend continues, we will see more buyers in the market this winter, too. So,this winter is likely to be a good time to sell.”
With buyers ready to stay active this winter, sellers who want to close a deal on the best possible termsshouldn’t waituntil spring to put their homes on the market.
Experts agree the winter housing market could potentially be bigger than ever. Whether you’re ready to buy or sell, contact a local real estate professional today so you can be in your dream home by the new year.
Real estate is my passion - but passion is just the spark. As your agent, I represent and advocate for you. I feel strongly that a successful real estate transaction involves finding a "win-win" for both parties. If one party wants to buy, and another wants to sell, there is no reason that an agreement cannot be reached - every time. As long as both parties feel that they are treated fairly, any problems can be overcome.
I moved from Michigan in 2006, and have been living in the Nixa/Ozark area since then. I raised my family here; I taught Chemistry at Nixa High School; and I got to know the community. My background is in chemistry/chemical engineering, so I enjoy analyzing housing data and projections. The teacher in me enjoys explaining the process of buying or selling a home. And the wife, mother, sister, daughter, and friend in me recognizes the importance of honesty, integrity, and timeliness.