July, 2020 Market Update
Inventory continues to be a problem in our market. In fact, at one point during July there were fewer homes on the market than at any point in the last 30 years. Considering the growth of our area that is a significant figure. The Covid-19 pandemic has only exacerbated the issue by lagging construction and sellers putting off listing until next year.
Interest rates dropped below 3% in July for the first time in history. This only pushes demand even higher on an already high demand industry. While no one has a crystal ball, experts expect rates to stay low for the foreseeable future.
Now is the perfect time to sell your home quickly for a high price. And if you are in the market to buy, you'll get to take advantage of the historically low interest rates we are seeing now, but in this market it's more important than ever to have an Integra Realty REALTOR® on your side!