Winter Will Bring a Flurry of Activity to the Housing Market
Real Estate's New Normal in 2021
When most Atlantans began sheltering in place back in March of 2020, no one could have predicted what would happen with the real estate marketing in the moths to come. Many thought the housing market would suffer, but rather than a slowdown, the Atlanta real estate market has thrived!
Market conditions like fewer available listings, changing criteria for desired homes, and record-low mortgage rates are changing the way people buy and sell homes, most likely in a lasting way. But this sustained activity, even in the uncertainty that is 202, proves that most people still view real estate as a sound investment. The only question now is how you can take advantage of the housing market's "new normal".
In today's Coffee with Connie video show, I will share the current state of the Marietta housing market as well as some predictions for the upcoming year.
National Predictions
n the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:
âIt will be one of the best winter sales years ever.â
The typical winter slowdown in the housing market is simply not on the radar. Hereâs why.
While todayâs historically low mortgage rates are expected to remain low, they wonât be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and theyâre ready to take action. In a recent article, Bankrate explained:
âIf youâre looking to buy a homeâŠexpect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.â
As long as we continue to see low interest rates, weâll see hopeful buyers on the hunt for their dream homes. Yun confirmed:
âThe demand for home buying remains super strongâŠAnd we're still likely to end the year with more homes sold overall in 2020 than in 2019âŠWith persistent low mortgage rates and some degree of a continuing jobs recovery, more contract signings are expected in the near future.â
The challenge, however, is the lack of homes available for sale. With that in mind, all eyes are on homeowners to see if theyâll sell this winter or wait until spring. Danielle Hale, Chief Economist for realtor.com, says itâs best for sellers to capitalize on this moment sooner rather than later:
âWe currently see buyers sticking around in the housing market much later than we usually do this fall. If that trend continues, we will see more buyers in the market this winter, too. So, this winter is likely to be a good time to sell.â
With buyers ready to stay active this winter, sellers who want to close a deal on the best possible terms shouldnât wait until spring to put their homes on the market.
Bottom Line
Experts agree the winter housing market could potentially be bigger than ever. Whether youâre ready to buy or sell, letâs connect today so you can be in your dream home by the new year.
Dan 678-488-0101 Connie 678-488-9646 Cassidy 678-629-8949
Office 404-480-8805
Email us: [email protected] [email protected]. [email protected]
Whether its a quick call or a face-to-face meeting you can easily get on our calendar.