Mark’s Market Update - It’s Like Groundhog Day, Incredible Interest Rates!
Welcome to Another Edition of Mark's Market Update
Hello and welcome to another edition of Mark’s Market Update: It’s like groundhog day, incredible interest rates! We’re seeing 30 year for buyers under 2.6% these are unprecedented times. Buying power has increased exponentially, but prices are also going up.
In the majority of markets where there have been strong sales over the last year, there is less than 2.5 months of inventory.?? Incredible times right now but as we go into the fourth quarter with the election with the unknowns, PPP money, stimulus money, and Covid we don’t know what it looks like.
So right now:
-if you’re a seller get your home on the market because it is a strong sellers market.
-If you’re a buyer you have to be patient
-If you’re an investor it is a hard hard time right now as a buyer because there are strong sales in the multi family world. In the commercial world you just want to stay away from those strip centers for retail, restaurants, and others.
If you have any questions about buying, selling, investing don’t hesitate to reach out and have a fantastic day.