Mortgage Headlines | Time to Sell

Have you seen the headlines?

Mortgage applications for home purchases continue to rise. According to the Mortgage Bankers Association, they rose 9% last week from the previous week and from a year earlier. This was the sixth straight week of gains and a 54% recovery since early April. Demand for housing which was strong at the start of this year, but pulled back sharply at the beginning of the pandemic, has quickly recovered. Home prices have not lost any steam, and given the lack of supply are unlikely to fall in any meaningful way.

What Does This Mean for You? If you were on the fence about listing your home due to Covid-19, now is the time. With such competitive home prices and a lack of inventory, sellers are experiencing multiple offers. They’re selling for much more, enabling them to take advantage of the low interest rates to move up to a larger home.