Q: What Will Our Market Look Like for the Rest of 2020?
Here’s how I see the real estate market finishing off 2020.
On the whole, our market continues to be a seller’s market like we saw in 2006 (though that may not accurately describe certain price ranges). When I say “2006,” I mean we’re seeing properties go under agreement within a day or two after going live, multiple offers above asking price (including plenty of cash offers), and the vast majority of homes appraising well. The last time I saw conditions this hot, I didn’t have any gray hair yet! Today I’m sharing my predictions for the rest of the year—thankfully, they won’t give you any gray hair.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to skip to topics that interest you most:
1:30 — People moving out of the big cities will continue to be a national trend
2:49 — People are moving to states with lower tax rates
3:32 — Home values will increase, and interest rates will get even lower
4:20 — The unknown variable: The 2020 election
4:58 — Why this seller’s market is still beneficial for homebuyers
5:30 — Wrapping up today’s topic
We’re seeing people move up from southern Broward, Dade, and Palm Beach counties into our little piece of paradise here in Treasure Coast. Even though COVID continues to disrupt many things, Florida will likely remain a popular spot for intrastate and nationwide buyers.
If you have any input or questions on this topic, please let us know by giving us a call or sending an email. Here at the Haigh Group, we’re always available to talk with you about your specific real estate needs. I look forward to hearing from you, but until then, I wish you the best in health, safety, and wellness!