If you’ve been thinking that 2020 is the year you’re finally going to sell your home, then you’re on the right track! Of course, a lot could happen, and the year is still young. If you were to follow Ryan Gorman’s prediction, you could be in for a great deal.
The president of Coldwell Banker NRT predicts that the housing market will be increasingly healthy. This is absolutely good news for anyone looking to sell a house.
In this post, we’ll look at some of the most interesting real estate facts and help you make an informed decision.
1. More Buyers Entering the Market With the Generational Shifts
The truth is, there are more new buyers for entry and middle-level homes. If your home falls into this category, you can expect eager, interested buyers that may need to move in quickly.
There may be fewer buyers interested in high-end homes compared to previous years, but it’s not hopeless. Most millennials are currently looking into purchasing their first homes.
2. Interest Rates Could Remain Low
Interest rates may remain low throughout the year, which will help first-time home buyers finance their first purchase. The Federal Reserve did not change interest rates in December of 2019, and the expectation is that they’ll remain unchanged in 2020.
Low rates nudge new buyers into purchasing your home, and you may secure a low interest for your new home as well.
3. The Upcoming Recession
According to experts, the recession might hit the economy in 2020-2021, though it’s not expected to hit the real estate market as hard as other sectors. Given the low employment rate, steady housing prices, and the Fed lending policy, the real estate market is looking more balanced.
4. Suburbs Are Having a Comeback Moment
Suburban growth is on the rise, while the city population is decreasing. The reason for this could lie in the tapering of the recession. This allows movements and the purchase of new homes, which is good news for anyone looking to sell a house.
Most millennials are starting families, and most of them are looking for stability and affordability in the suburbs.
5. Rise of Home Cash Buyers
If you’re looking to sell your house as is, especially if it is not in a very good condition, then you’re in luck because there is a rise in cash buyers. iBuyers are essentially instant home buyers, and once you look into “sell my house for cash,” you’ll be surprised at the results.
Interesting Real Estate Facts Unveiled!
Selling real estate is no easy feat, so you may be undecided. However, now that you have these interesting real estate facts, you can make the right move. If you want to take an opportunity and sell your home fast, cash buyers are your best bet.
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