Market Moment - November 24, 2020
The latest news from the National Association of Realtors… “Continued low mortgage interest rates are helping keep the sales number high, and according to the National Association of REALTORS’ (NAR) recent Profile of Home Buyers and Sellers, the coronavirus pandemic has also initiated several shifts in the housing market over the past eight months.
Buyers and sellers both indicated the pandemic had caused them to reassess their housing situation and even consider home sizes and destinations. NAR found buyers purchasing property after March were more likely to purchase a multi-generational home and sellers who closed in April or later were more likely to sell because their home was too small.
“The governor’s most recent stay at home health order which hampers real estate activities, may result in a slowdown of the market for the remainder of the year,” predicts Anaya. “We’ll just have to wait and see.”
Is this what you have heard about our market? This information is very fitting for our local Albuq/Rio Rancho market. Buyers are looking for the multi-generational home due in part to the pandemic of Covid-19. Families are wanting to keep parents closer. It helps support childcare, elder care, lower expenses, and more when sharing a household.
If you are looking to buy or sell, let’s talk. No obligation to chat about your situation and what 2021 may look like for you and your family.
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