2021 real estate

Mid-Year Market Update

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As we move into the second half of the year, many have questions on what to expect with the real estate market and what’s on the horizon.

The current real estate market is historic. Near record-low mortgage rates are fueling high demand, but a shortage of inventory has complicated buyer’s home searches. Throw a global pandemic into the mix, and we are looking at a real estate market that nobody has witnessed before. Today’s buyers and sellers face unique challenges, and it’s up to trusted real estate professionals to help guide them through these conditions.

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What’s Motivating People to Move

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There are a variety of different reasons why Americans are moving this year. The health crisis has truly reshaped people’s lifestyles and needs. Many folks are spending so much more time in their homes and it has made them reconsider what homeownership truly means to them.

The COVID-19 pandemic has been a major influence on consumers moves in 2020 and 2021. Whether it because they wanted to be closer to family, change in employment status or a desire for a change in lifestyle.

Remote work has become the new norm. For some, its lasting much longer than initially anticipated. Maybe your current home isn’t optimally designed for a make shift home office and it is creating a challenging working environment. Many of the current workforce is discovering that they don’t need to live so close to the office anymore and they aren’t making that daily commute. Many consumers are realizing that they can get a little more for their money if they move further away from the city.

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