Abbitt Realty — Hampton Roads: Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two:
The Biggest Perk for Buyers: Low Mortgage Rates
“Purchasing power rose 10% year-over-year…With interest rates hitting record lows, buyers were able to afford $32,000 “more house” as of July 23 than they could the year before with the same monthly payment.”
The Biggest Perk for Sellers: Low Inventory
“Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million).”
“Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply.”
Whether you’re thinking about buying or selling a home, there are some key perks available right now. Speak to our Top Agents, serving Coastal Virginia and surrounding areas, and receive a personalized consultation to find out whether starting your home-buying or selling process now is ideal for you and your family. Let’s connect today to discuss how you may be able to take advantage of the current Hampton Roads real estate market.
Call us at 757-703-7702, send us a message, or email us at firstname.lastname@example.org