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The 2020 Winter Housing Market Could Be the Best Ever

In this issue:

  • We could see the best winter housing market ever—and close out the year with more total sales in 2020 than in 2019.
  • Mortgage rates are expected to remain low… but they won’t be this low for much longer.
  • The biggest challenge the market faces right now is a lack of available homes for sale.
  • Now is the time to take advantage of record-breaking low interest rates and rising home prices. Ready to make a move? Call us today!

The Winter Housing Market Looks More Than Promising

a large home covered in snow

After a slower-than-normal spring selling season, the housing market surged with activity in summer and fall. Looking ahead to the winter season, real estate agents predict the typical holiday slowdown won’t happen this year. In fact, the National Association of Realtors suspects 2020 could see the best winter housing market and selling season ever.

Here’s why the typical winter slowdown just isn’t on the radar.

Mortgage rates are low… for now

a man calculating mortgage rates

You’ve probably heard that mortgage rates are lower than they’ve ever been. Buying with a low mortgage rate means saving tens of thousands of dollars throughout the duration of a mortgage—so it’s understandable that many are hurrying to buy while rates are still good.

Interest rates are expected to remain low going into 2021, but they likely won’t be this low for much longer. According to Bankrate, the possibility of rates falling to 2.5% or lower has faded as the US economy improves. As such, this could be a last chance for buyers to secure rock-bottom low mortgage rates—so they’re ready to make a move.

There’s a lack of homes for sale

a sold sign on a home

The one challenge to the winter real estate market is the falling number of homes for sale. The demand for homes shows no signs of slowing, which means competition will likely remain tight between buyers.

For sellers, this low-inventory market represents a fantastic opportunity to cash out on substantial equity—and with the best possible terms. It’s a sellers market, so it’s an ideal time to list for a great price and close quickly.

It’s a fantastic time to buy or sell

a man and a woman walking into their new home

Rarely does a market pose such strong benefits to both buyers and sellers. Low interest rates save buyers thousands of dollars—and represent a great opportunity for sellers looking for a trade-up home.

High buyer demand and climbing prices are ideal for sellers who want to maximize their equity, sell on a tight timeline, and possibly upgrade to a more costly home.

Ready to Make a Move in the Triangle?

Are you thinking about buying or selling a home in the Triangle area? We’d love to help! Contact Linda Craft & Team today at 919-235-0007 to learn more about how we can put our 350+ years of combined experience to work for your real estate goals.

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