National Real-Estate News Today

National Real Estate News Today. Closing prices will hold fairly steady through the end of 2020, though the number of closed sales will decline moderately, according to Forbes. Some market participants will pause to reassess their interest in buying or selling. The COVID-19 pandemic has shaken us all up, and some people want time to reassess their goals. The reassessment will probably affect would-be buyers and would-be sellers about equally, so no impact on price but a decline in the number of sales transactions. Hi, I’m Rich Barnes, Owner/Broker of Realty Experts in West Allis, Wisconsin 53214. According to Forbes, the number of likely home buyers is probably dropping by around 15%. The unemployment rates have risen by 11 percentage points with a few more percentage points coming. If you’re a buyer, interest rates have fallen again to about 3.33% as of April 2nd, according to Freddie Mac. Even with a temporary increase in mortgage rates, are now more than a half a point below the rate at the same point in 2019, and they are still well below rates from a historical perspective. Unfortunately, low interest rates haven’t been able to sustain buyer activity. While it’s unclear whether it’s primarily due to orders to remain at home or concerns about financial stability and employment, it’s likely a mixture of both. Home buyer activity has dropped dramatically. In a survey of more than 3,000 realtors conducted on March 16 and 17 by the National Association of Realtors, 48% reported a decrease in home buyer interest due to the coronavirus outbreak. If you’re selling, home buyer activity has dropped significantly. Many sellers have decided to delay putting their homes on the market, both due to social distancing and eliminate the need to move in the middle of a pandemic. However, not everyone has the luxury of waiting. Fortunately, not all is lost. Daniel de la Vega, a Miami-based president of one Sotheby’s International Realty, which has locations throughout Florida, says that while activity has decreased, agents are still showing homes by video tour, and homes are still going under contract. Here at Realty Experts, we are digital marketing experts. If you have a desire to list your home in this market, we have you covered with our second-to-none digital marketing, virtual open houses, video tours, and 3D virtual tours. Call us today if you have any questions, and let us show you the future of real estate. Your safety is our top priority. Thanks, and you have a great day.

National Real Estate News Today!
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