Housing Market: One of the Winners of 2020 Economy
In a turbulent year such as 2020, not too many industries have shown as much resilience and growth as the real estate market.
With the federal reserve planning to keep rates at record lows, 2020 is turning out to be one of the best years for financing! Low rates play a huge factor in the continual increase in prices & rise in home sales!
What has also helped the drive in our industry is the switch to remote work for many jobs! Companies across the world have chosen to let their employees stay home and work in an effort to curb the spread of Covid-19 which has had an immediate effect on the desire to have a bigger and more open living space. Why stay in a small apartment in a crowded city right next to your company's headquarters if you are barely in the office when you can stay in a beautiful home in a suburban setting?
Should interest rates & a booming enthusiasm for leaving a city for the suburbs continue then 2021 should turn out to be just as bright for our industry!