There is a lot of news about the real estate market. We thought we’d break down a recap of 2020 and provide data and context for the year ahead. Below we look nationally, regionally, then locally.
Overall it remains a strong market to sell. Contributing to this is the monetary policy, low interest rates and resilient financial markets that provide confidence that it is a good time to buy. Home shoppers want to begin experiencing their new home. This is key as it supports market velocity for sellers.
Let us know if we can be a resource for you or those you know for your real estate needs here or across the country.
Dana, Mark, Melissa, Carina and Zsanett
The Bambace Peterson Team
National 2021 Outlook
Looking at the year ahead in 2021 here are some highlights for context.
As we’ve shared before, our area has always had a high percentage of second home owners.
Analyzing our 63 sales transactions from 2020 we see that 60% of buyers were for primary residents and 40% for second home owners. However, 43% of the Sellers were also second home/ investors. Our homeowner demographic remains constant with many buyers' mindset shifting here for primary. We expect more of this in 2021.