Updated: Apr 7
Houses are Selling Faster than Before!
It's out of the question, the best time to buy and sell a house is right now. According to realtor's August 2020 Monthly Housing Market Trends Report, a typical home is 5 days shorter in the market as compared to last year. For larger markets, it spends less than a week as compared to last year, and for larger metropolitan areas, less than 19 days!
Homes are selling fast!
So what role is the millennials playing in this current trend in real estate?
Role of Millennials
It turns out, millennials are responsible for the recent boom in the real estate market this pandemic. According to a recent article by Wall Street Journal, millennials are helping the real estate market recover during this pandemic.
This generation alone is 50% of the loan owners this 2020 and there seems to be no stopping them in investing since interest rates are at an all-time low.
Whether you're a buyer or a seller, this would be helpful to strategize your plan in the coming months. Why not talk to a millennial now? If you are one and looking for a home, talk to a realtor today.
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Speaking of getting a house, should you build one or just buy one that's already made? Read it here to find out the pros and cons.