Is it a buyers or sellers market in Orlando? Home sales recently spiked by 25% in Orlando, with buyers in the real estate market literally “shocked” at how fast things are getting snapped up. As the Orlando Sentinel reports, tight inventory combined with an influx of buyers means Orlando may remain a seller’s market for the foreseeable future
In 2020, mortgage rates were reduced due to the pandemic which helped offset the sting of higher prices. In 2021, mortgage rates are expected to stop dropping. Rather, the National Association of Realtors expects rates to average 3.1% and the Mortgage Bankers Association says mortgage rates will average 3.3% in 2021.
Home buyer demand surged, despite a global pandemic and economic slowdown. We expect to see less demand among home buyers in 2022, and for a number of reasons. For one thing, mortgage rates are widely expected to be higher next year than they are right now.
The great news for sellers in 2021 is that they can gain a great premium for their home, with great terms – yes it’s a strong sellers market!! If you are in the market to sell, this is the time! Realtors and Brokers, and buyers and sellers for that matter, are starting speculate about how long this is going to last for. Economic reports supporting a slow down in 2022. Flashbacks of 2006 come to the fore, however, it is not predicted to be the same type of crash, Lenders enforced stricter financing guidelines this time around. In 2022, predictions of a cooling off is on the cards.
Further real estate news article below:-
Article here:-https://www.cnbc.com/2021/04/13/when-is-the-housing-market-going-to-crash-consumers-ask.html