As we move into the second half of 2021, one thing is clear – this is a great market for home buyers and sellers. In reviewing conditions, these four components appear to be shaping the real estate market.
Home Shortages
This year began with a record low number of homes for sale in the real estate market. The volume has increased somewhat and that is good news for buyers. Inventory still remains a challenge, but more options mean better opportunities for buyers. Although it is still a sellers’ market, increased volume allows buyers to be little more selective than they could be earlier in the year.
Competition and Bidding Wars
Low supply and high demand have created frustrating bidding wars and intense competition. Buyers are making offers over asking price, paying with cash and waiving contingencies and inspections. This is great news for sellers, who are more selective when reviewing and accepting high priced offers with the added perks of early closings, higher earnest money, no inspections and sometimes selling a home, “As-Is.”
Price Appreciation.
Competition is driving prices up and strengthening real estate as a whole. Now is a great time to sell your home to earn maximum dollar or to purchase an investment property to lease for additional income.
Rise in Home Values
Equity grows as value appreciates. Thanks to this increase, home owners are seeing a huge increase in value in real estate. This is a major perk as home owners can leverage this equity to accomplish life goals, invest and move into a larger home.
If you are thinking about buying or selling a home, the time is now. Take advantage of these conditions and meet your home ownership goals with The Keith Albrecht Team. You may connect with us at 317-580-9955 or at https://www.keithshomes.com/. Take the step forward.