Do you keep hearing about home prices? Are you wondering what is happening with it? There is a lot of information and a lot happening in real estate right now. Learning about all of it takes time and effort, however, we would like to give you some updates about home prices in early 2021.
Realtor.com has reported that home prices surged 12% in February. This is the biggest price jump since 2006, which is a $35,000 gain for median-priced homes. Two separate barometers found the same numbers.
Many people are wondering how sustainable these price increases are. However, many experts are saying that this is a sign that the economy is recovering. The other factor that makes experts think this is going to continue is the housing shortage. It will take years for the housing shortage crisis to be solved, however, the population will continue to grow and more and more millennials will reach a home buying stage by that time.
The simple cycle of supply and demand is the most likely explanation for why the housing market will continue to boom while we are still at a shortage.
Are you wondering how this affects you? It all depends on if you are a buyer, a seller or an investor and what you plan to do and when you plan to do it.
Amin Vali Real Estate Investment can help you make a plan for today, for tomorrow and even for many years from now.