Real Estate 2021, What’s Next?

Real Estate, What’s Next? What should I do? What’s happening both nationally and locally in the real estate market? Is now a good time to buy? Should I sell or wait for prices to go up? Hey, what if prices go down? Hi everyone, I’m Rich Barnes, owner, broker of Realty Experts in West Alice, Wisconsin, 53214. These are the types of questions we’ve been getting from everyone locally here in the Milwaukee area. I get it, it’s hard to know what to do. I understand how nervous it can be, this is most likely one of your most valued assets. Well, for the last 20 years we’ve sold thousands of homes, so we get it. But let’s take a look at what’s happening in the real estate market. Low interest rates are fueling competition among buyers, boosting existing home buying activity to the highest level since 2006. The increase in buyer activity is causing a frenzy for buyers and driving up home prices. According to Freddie Mac, mortgage rates continue to set record lows. The 30-year fixed-rate mortgage recently averaged 2.81%, the lowest rates since Freddie Mac began tracking such data back in 1971. The economists point to a weaker consumer spending are a contributing factor to driving down mortgage rates. This all looks good for the real estate market. We can’t predict what will happen, but another bit of good news is how the stimulus checks provided by the government were used. According to the New York Fed, 29% of Americans spent money, but 35% paid down debt, 36% saved the money. So it seems that 71% of Americans used their money wisely and should help us as well. So if you have any questions with Real Estate, feel free to reach out, I’m here to help. Thanks, you have a great day.

Real Estate 2021,  What's Next?
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