Categories: Real Estate

Autumn Real Estate Market Trends

The housing market is just like anything else when it comes to change; it’s inevitable. And also, just like many other similar (and completely unrelated industries), it experiences seasonal shifts. This year is truly like no other, given the global health crisis that we have all had to deal with. This has made what was once seen as the simplest of chores difficult and, in some cases, impossible. With that in mind, here are a few examples of what is going on in the real estate market heading into fall:

Stable Interest Rates

Although many people were predicting that interest rates would stabilize at this time of the year, it ended up happening for reasons that had nothing to do with the original predictions. The sudden outbreak of the coronavirus brought home buying and selling to a halt. It did the same with the rest of the economy. The Feds took drastic measures to encourage real estate transactions.

Shortage of Entry-Level Homes

A lot of singles, married couples, and young families like to try and close on their first home before the holidays. There is something extra special about getting to spend Thanksgiving and Christmas in your own home. Following the sudden slowdown in buying in selling, things are starting to pick back up as we all adjust to living in this new reality. Unfortunately, many of these prospective buyers may have difficulty finding something they love. In these cases, it is essential not to rush into a buying decision.

Housing Uncertainty

Finally, something else that is looming over the market is the lack of clarity regarding past-due mortgages and late rent on millions of residential properties all over the country. If some type of governmental relief doesn’t come, we could be on the verge of an eviction crisis on top of everything else.

If you are getting ready to buy or sell a home this fall, or if you find yourself with any other type of legal real estate issue, make sure that you take the time to safeguard your future and protect your investments. People who understand the importance of property law and transactions also understand the importance of having a real estate attorney working on their behalf. Give us a call here at Bell Law to find out how we can help you protect your interests and still get you the best deal!

Bell Law, LLC

Recent Posts

Items Home Inspectors Are Not Required to Cover During an Inspection

It surprises many homeowners or buyers when they first learn about all of the things…

2 weeks ago

Is Your Business Protected Now That You Work from Home?

As if running your own business wasn’t already difficult enough on its own, now you…

4 weeks ago

Tips to Beat First Time Home Buyer Stress

Even though buying your first home should be a cause for celebration, it is frequently…

2 months ago

Home Exterior Updates to Make Before Putting Your Home on the Market

Selling a home can be a massive undertaking, and the real work begins long before…

2 months ago

Making a Successful Cross Country Move

Moving across the street is stressful enough, but moving cross country is a whole different…

3 months ago

Buying Your First Home? Start Here.

Purchasing your first home is an incredible feeling, as years of hard work and planning…

4 months ago