Q: Why Is the Market Going Wild?
Why is the U.S. real estate market so active right now? Let’s discuss that.
If you’ve listened to the media or read the newspapers, you know that the whole country is in a massive seller’s market. You may have asked yourself why the real estate market is going nuts during a health crisis. Well, interest rates are driving the market; they’re currently in the 2s and low 3s for qualified buyers, and that’s extremely low.
In Northern Virginia, we have very little inventory—less than a month’s worth. That means that if no other homes were listed, it would take us less than a month to sell all the available properties. This is a colossal housing shortage, so if you’re considering selling your home, this is a wonderful time. All this means excellent opportunities for sellers.
If you have any other questions about our market or real estate in general, give us a call or send an email. We would love to help you.