The real estate market has had its ups and downs in 2020. When COVID hit in March, the market came to a standstill. But that changed in the summer—and buyers are out in full force, driving major increases in both home sales and home prices, even during the winter.
According to data from the National Association of REALTORS®, in October, existing home sales were up nearly 27 percent from October 2019. And the median existing home sale price in October was $313,000. That’s up from $271,100 in October 2019—an increase of nearly 16 percent!
With more families homeschooling and working from home, why not live somewhere you love!
COVID-19 vaccines, stock market soaring and with mortgage rates hovering around 3%, this real estate growth will continue.
The Takeaway:
So, what does that mean for you? Buyer demand is extremely high, which is driving up sales, competition, and prices—so if you’ve been thinking about selling your home give me a call. Carrie Summers 979-759-2540 MancosHomes.com
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