These days, people are always asking why there’s been such an increase in demand in the real estate market. Well, low interest rates and the pandemic have created an interesting market. The great interest rates are encouraging buyers (especially first-time buyers) to enter the market right now. Most can get a mortgage payment that’s cheaper than what they’re paying in rent, as well as more space.
The health crisis has also caused employers to encourage employees to work from home, so people are looking for homes elsewhere; we’re seeing massive demand in the western and southern counties. In previous years, larger houses moved a bit slower, but we’re now seeing higher demand for them, especially if they have a pool. Finally, second home sales have increased tremendously since the onset of COVID-19, particularly in the northern neck, on the lake, and in the mountains.
If you’re considering buying or selling a property or have any questions, please don’t hesitate to call or email me. I would love to be your real estate resource.
