In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:
“It will be one of the best winter sales years ever.”
The typical winter slowdown in the RCFE housing market is simply not on the radar. Here’s why.
While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for RCFE homebuyers to secure such low rates, and they’re ready to take action. In a recent article, Bankrate explained:
“If you’re looking to buy an RCFE home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.”
As long as we continue to see low interest rates, we’ll see hopeful RCFE buyers on the hunt for their dream RCFEs. Yun confirmed:
“The demand for home buying remains super strong…And we’re still likely to end the year with more homes sold overall in 2020 than in 2019…With persistent low mortgage rates and some degree of a continuing jobs recovery, more contract signings are expected in the near future.”
The challenge, however, is the lack of RCFEs available for sale. With that in mind, all eyes are on RCFE homeowners to see if they’ll sell this winter or wait until spring. Danielle Hale, Chief Economist for realtor.com, says it’s best for RCFE sellers to capitalize on this moment sooner rather than later:
“We (saw) buyers sticking around in the housing market much later (in the year) than we usually do. If that trend continues, we will see more buyers in the market this winter, too. So, this winter is likely to be a good time to sell.”
With RCFE buyers ready to stay active this winter, RCFE sellers who want to close a deal on the best possible terms shouldn’t wait until spring to put their RCFEs on the market.
Experts agree the winter housing market could potentially be bigger than ever. Whether you’re ready to buy or sell, contact us today for your complimentary consultation. We will tailor a strategy to help you realize your real estate objectives.
If you are considering buying, selling or leasing an RCFE, please call us TODAY to explore your options. We would be delighted to evaluate your business and provide price guidance. We will help you obtain the highest possible price for your RCFE.
Michelle (949) 397- 4506 & Melvyn (949) 500-3630