Due to today’s low mortgage rates and changing homeowner needs, there are more reasons than ever for Americans to buy a home. Experts say buyers are making moves at this time of year, making it unusually strong in terms of the housing market.
We are heading into the winter months as we wrap up the fall season, so here is what several industry leaders have to say about the market’s continued momentum, and what the prospects are for the next few months.
“This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 million, which will shape up to be the best performance in 15 years.”
“So far in November, purchase applications point to another strong month in sales. Still low rates and demographic demand support this strength, even as affordability and inventory headwinds remain.”
“The demand for housing in the United States has reached a fever pitch, a trend that opposes the norm of this time of the year when the market cools as the winter months set in.”
“Strong demographic demand will continue to act as the wind in the housing market’s sails.”
The winter housing market: what does this mean?
The market is active and buyers are competing for the available homes. The momentum coming out of this fall indicates a busy winter real estate market, which will be much more active than a typical year. Real estate in 2020 and 2021 was anything but typical, as we’ve seen on so many levels. And it looks like 2022 may be right behind it.
Don’t expect the Denver housing market to slow down this winter. So if you’re thinking of selling your Denver home, buying a new one, or both – let’s connect to see if this winter is the best time for you.