Happy Summer! I hope you and your friends and family are doing well, staying healthy, and keeping cool!
The real estate market has shown some signs of improvement recently — with the decreased inventory and great interest rates, more sellers are finding competition for their homes. Inman news recently posted a quote by economist Taylor Marr that truly sums up the market we are in right now. Marr writes that “Bidding wars continue to be fueled by historically low mortgage rates and fewer homes for sale than almost any time in the last two decads. it’s like a game of musical chairs where only the best bidders get a seat. Both renters and move-up buyers who have held onto their jobs are vying for the small number of single-family homes on the market as they realize they need more space for their families.”
In the luxury space, where buyers decisions are based more on wants than needs, is also seeing a trend shift. Today’s buyers are looking for homes that provide more dedicated spaces for work, wellness, and play, especially now that we are all spending more time at home.
If you would like to discuss current local real estate market and investment news, please do not hesitate to call. We are here for you! Looking for a cutting edge agent way ahead of the trends? Contact us today! Licensed in DC, MD, VA & Florida #LoveWhatYouDo #ListWithUs