Where Have All The Houses Gone?Mar 14, 2021
Historically low interest rates and a pandemic desire for more space are driving demand — the other half is more complicated.
- Who wants to sell a house in the middle of a pandemic?
- Who would move into an assisted living facility or nursing home right now (freeing up a longtime family home)?
- Who would commit to a “forever home” (freeing up their starter house) when it’s unclear what remote work will look like in six months?
- Were in mortgage forbearance ……. meant that some homes that most likely would have come on the market over the past year, either through foreclosure or a forced sale, did not.
- For more than a decade, less housing has been built relative to historical averages.
- Low interest rates. That incentivized many homeowners to stay in their homes longer than they would have in the past, clinging to cheap mortgages.
- The low rates also encouraged many homeowners who bought a new home not to sell their previous one, but to treat it as an investment property instead.
Interested in buying or selling a home in 2021? Click on the link below, tell me a little bit about what your goals are, then schedule a Zoom call with me! Takes about 2 minutes:)