While the days are gradually getting warmer and brighter, the spring real estate market is already in full bloom – kicking off what is sure to be a fast-paced housing season. Whether you are buying or selling, these four housing trends looming on the horizon could affect your game plan.
The experts at Savvy + Co. Real Estate are knowledgeable professionals who love helping clients in all types of market conditions. They offer updated market analysis, tips for getting the most value out of your home and step-by-step plans to make your moving dreams a reality. Whatever this topsy turvy market brings, they are ready!
Seller’s market stays hot
With housing demand at an all time high and inventory struggling to keep pace, seller’s will stay in the driver’s seat. For buyers, this means the continuation of multiple offer situations and added frustration in finding a home. There is a glimmer of hope, however, with new construction products coming on the market and the possibility of a change in interest rates. If one or both of these variables become reality, the frenzy could cool a bit.
Luxury and second home purchases continue
Social distancing, cancelled and delayed travel plans and changes to work from home policies, all contributed to a rise in the purchase of second (and third) homes over the past year. Luxury properties also saw increased popularity with favorable refinancing options and extra funds made available by living life in place. This trend also looks likely to continue as buyers see the benefits of having a “home away from home” or an abode with plenty of staycation options.
Investors will change the market
Small and big time investors have come to Charlotte and surrounding areas purchasing homes at a dizzying pace. The increased squeeze on inventory makes trying to get into a home that much more frustrating for the average buyer who doesn’t have a pile of cash and must go through traditional lending channels. However, the hot real estate market means steady growth for the Queen City and the ability to attract businesses and development.
Creating partnerships = a huge advantage
When opportunity comes knocking – the person who makes it to the door first wins! Creating trusting relationships with real estate and mortgage professionals is paramount in being in a position to take advantage of a great deal. Now is the perfect time to start working with a real estate agent to see what your home is worth and compiling your list of “must haves” for your next home.
Want to know more about what spring 2022 could hold and how you can be ready? Contact a Savvy + Co. Real Estate professional today.