Happy November from Lakeside Title!
Autumn is such an exciting time with all the activities that come with the changing weather. From carving pumpkins to picking apples, not to mention celebrating Halloween and Thanksgiving, this season has a lot in store for us, including a busy fall real estate market.
Typically, the season is paired with a slower market, but this year has been anything but normal. Not surprisingly, the market is staying hot, even as the temperatures cool down. We know fall homebuyers are usually more serious in their home searches. More holidays are approaching, and people want to settle down as quickly as possible before the new year so here are some fall tips for sellers, though our Realtor friends know these already.
Even with more supply around than the spring, there are more buyers than homes up for sale. Only weeks before the fall housing market started did home prices hit a national median all-time high of $385,000, according to Realtor.com. Home prices are pleasantly high, and mortgage interest rates are floating in record low numbers as 30-year, fixed-rate mortgages averaged 2.87% back in August. Even as rates slowly tick up, they are still low enough to be considered very affordable.
While the market will remain busy, observers believe it is a great time to buy a home. As the chief economist of building consultancy Zonda, Ali Wolf said earlier this season in that Realtor.com piece, “Going into fall, buyers may not need to pull out all the stops to win a house, like removing the inspection contingency or waiving the appraisal contingency.”
Fall is the perfect time to seize opportunities in marketing your real estate business and find new homebuyers, too! Thank you for continuing to trust the xx team to take care of your transactions and customers all the way through the closing table. Reach out to us whenever you need us. We love working together in all seasons.
And if you have a Thanksgiving picture to share soon – we’d love to see it! Bring it in. or share it on our Facebook page.
Receive News & Insights Direct to your Inbox