As we approach the close of this unpredictable, crazy year, I’m sure you’ll find the real estate statistics from November to be equally extraordinary as the market, even moving into the holiday season, continues to move at a brisk pace.
Each year, at this time, we are asked “what will the Spring market bring?”. Our answers are generally based on statistics, economic forecasts, interest rates, social influence and, of course, some crystal balling. The cost of borrowing money hasn’t been cheaper in generations, the focus on “home” continues to grow, housing inventory remains low so the upward pressure on prices continues. Finally, a certain confidence and resilience grew in the last 6 months so that it has become okay and perhaps prudent to be trading real estate. It will certainly be interesting to watch 2021 unfold.
Should you have any questions about this market or would like a complementary updated pricing evaluation on your home, feel free to contact us.
Check out this month's edition of Real Estate Facts & Figures for November 2020.