Busy Winter Season Predicted

This winter is predicted to be a busy real estate season according to statements from a recent presentation by Lawrence Yun, the National Association of Realtors®’ chief economist:

• Winter-to-winter comparison, this should be one of the best.

• Pending contracts are higher. Mortgage applications are up roughly 20%. There are plenty of buyers in the pipeline.

• The percentage of income dedicated for mortgage payment is currently very manageable for consumers, however, it is beginning to rise, despite very low mortgage rates.

• I predict 2021 will be a better year, as mortgage rates should remain stable and the housing market should still be strong.

• I forecast new-home sales to increase 21%, while existing home sales will see a 9% jump.

• I think the working-from-home demand for larger sized homes will continue. Prices are in no danger of decline.

Those thinking of selling in the next few years might want to shorten their timeline. This is an optimal time to sell with so many buyers in the market ready to act. Savvy sellers know that an active market does not equate to an easy market. Now more than ever, partnering with a real estate brokerage that is experienced in local property values and negotiating complex contracts with escalating clauses is vital to protect your interests. A good place to start? Request a no-obligation home market analysis from Beiler-Campbell Realtors.