REAL ESTATE in the NEWS
Why Is the U.S. Housing Market So Out of Whack? What Homebuyers Need To Know Right Now
There’s never been a housing market quite like this before. Today’s real estate agents are pulling double duty as therapists, consoling heartbroken homebuyers who lost out on their fifth—or 15th—home. First-time homebuyers around the country are being outbid by investors—some of whom are willing to pay more than $100,000 over asking price. Wealthy buyers offering all cash for second homes are sending prices ever higher, pushing the dream of homeownership out of reach for many folks.
Meanwhile home sellers are enjoying the benefits of life in the fast lane: the ultimate seller’s market. Can all this last? Is this really going to become the new normal?
LOCAL EVENTS
Lifestyle Tips & Tricks
Prospective Buyers Should Enter the Fray This Fall in These Hot U.S. Markets
The fall months typically mean a cooldown in real estate transactions, but this year, with inventory low and demand high, prospective buyers are wondering whether they should wait to buy. The Covid-19 pandemic is continuing to influence buyers’ decisions, particularly for those who are now working remotely and, as a result, are seeking out homes with more space in smaller, less crowded cities.
Content + Images courtesy of Compass