Over the next months, there may be boasts that the housing market is increasing drastically as compared to last year. Last year’s data covering March, April, May and June showed significant decreases in the housing market because of COVID-19.
In the upcoming months, the news and headlines will boast massive increases as compared to last year. However, that’s not the case. Of course we had an exceptional year with home appreciation in the housing market because of:
- The lowest inventory levels I’ve ever seen.
- One of the lowest interest rate levels
However, if you compare last year’s numbers to this year’s numbers, they will seem different.
The cause wasn’t the market. It was what happened last year as compared to what’s happening now. Two things have contributed to this increase:
- One was lower housing numbers during the start of the virus
- The subsequent strong rebound.
If I wasn’t selling real estate in Fort Washington, 20744 or if I didn’t know any better, it would have fooled me too.
Be cautious, deciding without speaking with someone who’s got the experience and knowledge to help you make an informed decision. Bottom line, there’s going to be crazy headlines about the sensational real estate market as compared to last year, but don’t let that fool you, the market is finally getting back to normal.
Reach out to me and if you’d like a hassle free virtual assessment of your property, I’d be glad to hop on a zoom with you as well.