You may have noticed that it’s very much a seller’s market right now thanks to housing costs skyrocketing this past year. This is good news for anyone looking to build up their wealth through real estate. Stocks may come and go as a great investment option, but real estate typically remains a solid pick. Even owning your main residency can become a great addition to your portfolio as market conditions swing in your favor!
Take a look at these statistics to see why real estate is still the hottest commodity:
- In 2020, the average homeowner’s equity increased by $17,000
- Homes in today’s market sold for an average of $66,000 above purchase price
- Last year, home values appreciated at their highest levels since 2014
- Overall, homeowner equity grew over $1 Trillion
In addition to these statistics, here are a few reasons to consider getting your home on the market right now:
- Pent-Up Demand: The pandemic delayed the 2020 buying season, and a year later, those who waited are chomping at the bit to get started.
- Low Interest Rates: Financing is more affordable than ever due to mortgage rates reaching historic lows.
- Solid Home Prices: Low housing inventory and high demand are getting sellers top dollar for their homes.
- Faster Process: Homes are selling quickly, with new listings spending about 21 days on the market.
- Supply May Increase: As new home construction rises in 2021, prices may begin to stabilize. Sell your property now to get the best price!
Whether you’re ready to buy or sell, or if you’re concerned about current market conditions, I’m here for you! Give me a call at 480-355-8645 and we can discuss ways to get you moved this summer. I’ll share how I will go above and beyond to make your search a breeze!