Homebuyers Are On The Move
There is no doubt that homebuyers are on the move this year. If you have been considering a move, did you know that house inventory is at record lows? This means that there are more homebuyers than houses to purchase, ensuring you will get top dollar if you sell your home right now and make your move to The Canoe Club.
Why are homebuyers making the move?
The number one reason is mortgage rates. In fact, according to this article in KeepingCurrentMatters.com:
The health crisis definitely put homebuying plans on pause for many earlier this year. Buyers, however, are in the market and making moves well past the typical busy homebuying seasons of spring and summer.
One of the main reasons buyer traffic has continued to soar in the second half of 2020 is how dramatically mortgage rates have fallen. According to Freddie Mac, the average mortgage rate last December was 3.72%. Today, the rate is a full percentage point lower.