Introduction
The real estate market is hot and people are buying homes. In fact, there’s a shortage of new construction homes that could cause prices to go up in some areas. COVID-19 won’t slow down the hottest markets in the country, but it will make it harder for people to find homes that fit their needs or budget.
Lifestyles will continue to play an important role in where people choose to live as millennials become more affluent and older generations want help downsizing into smaller places with less space than they used to need. And mortgage rates are still low, so now is a good time to plan on buying or selling your house if you haven’t already made plans for either option!
There’s a shortage of new construction homes, and it will probably get worse.
The second prediction is that there will be a shortage of new construction homes. The number of new homes being built has been steadily declining since the early 2000s and it’s going to continue to fall as more people move into cities and urban areas.
This has two main effects: first, it makes it harder for buyers who want a house but don’t want to wait years for one; second, it means that developers can’t build enough homes quickly enough when demand increases (which happens every few years).
It’s possible that this could lead to another housing bubble as we saw in 2008 or 2009—but if so then our government would have some pretty big problems on its hands since they’ve been running record deficits since then!
COVID-19 won’t slow down the hottest markets in the country.
COVID-19 won’t slow down the hottest markets in the country. As has been seen with previous outbreaks, a lot of people are still going to be buying homes even though they have been warned about this possibility. The problem is that we don’t know how long it’s going to last and how many people will actually listen to warnings or take any kind of action before they buy a home instead of renting one.
The good news is that if you’re looking for an affordable place to live, there are plenty of places where prices aren’t as high yet—and prices will likely remain low until COVID-19 hits its peak and then falls again (like it did after SARS).
If you don’t mind living further away from work or school than usual (and if your job isn’t too far away), then these areas could be perfect options for those who want something within reach but still need something spacious enough so that no matter what happens during COVID-19 season, their family won’t be inconvenienced by having extra space around them all day long every day!
Lifestyles will continue to play an important role in where people choose to live.
Lifestyles will continue to play an important role in where people choose to live. People will want to live where the lifestyle is attractive, and they will move away from places that don’t fit their needs. In terms of real estate, this means that neighborhoods with good schools, low crime rates and strong economies are likely to be popular choices for buyers.
People may also choose a home based on its proximity to work or entertainment venues such as bars and restaurants that appeal more than simply being close enough so they can walk or bike home after work at night (although this has become less common).
Mortgage rates are still low and you should take advantage of them now.
If you’re planning on buying a house, now is the time. Mortgage rates are still very low and are expected to rise slightly this year.
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If you’re thinking about staying in your home for at least five years (or more), it’s best to buy now because prices will likely rise over time as more people want to buy homes. If you plan on selling your house soon, hold off until after interest rates go up so that there isn’t any damage done by having too high of an initial mortgage rate when selling your house.
Now is a good time to plan on buying or selling a house
Now is a good time to buy or sell a house.
Good times for Buyers:
- Interest rates are low, so it’s more affordable to borrow money and put down that deposit on your new home.
- Inventory of homes for sale has decreased over the last few years, which means fewer choices when looking at properties outside of your price range. This can be helpful if you’re looking at properties outside of your budget but want something different than what’s available in the area where you live now (for example, if there are lots of houses being built next door).
Conclusion
With so many factors affecting real estate prices, it’s hard to know what the future holds. But there are some trends that have been consistent for years and will continue throughout the next decade: a shortage of new construction homes and rising interest rates, among others. With that said, it’s important to keep an eye on your local market as well – if you see something you like in particular, now may be the time to start looking!
