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Bayou Vista Homes Market Update
Posted by realtorbarbie on 10/19/2020, 9:26 amUser logged in as realtorbarbie
If you have been teetering on the fence about whether to sell this year or next. According to the below article from the National Association of Realtors, prices have risen 5.5% this year, but should only rise 2.6% next year. The interest rates are still at an all time low, which presents us with more buyers. The Bayou Vista listing inventory is very low, because we have buyers waiting on every new listing that pops up. I work hard for YOU! Call/text me at 713-44-2570 and let me come visit with you and go over a free market analysis of your home. If you list your home for sale, great, but if we just chit chat and you don't list your home, that's fine too.
NATIONAL MARKET UPDATE
For the week ending October 10, the National Association of Realtors Housing Market Recovery Index rose well above its pre-pandemic baseline, more sellers are listing, and asking price growth dipped, its first drop since mid-April.
The year looks good too. Freddie Macís Quarterly Forecast expects home sales will grow to 6.2 million this year, with purchase mortgages reaching $1.414 trillion. Prices should rise 5.5% this year, but only 2.6% in 2021.
For home sellers, instant offers might mean a faster sale with no strangers in the house. But a recent study found that iBuyers cost sellers about 13% to 15% of a homeís sale price, versus the far lower agent's commission.