Housing Market: What Will Happen to Home Prices? 🏡 Realtor Explains
As if 2020 couldn't get any weirder, we've been dealing with an insane housing market here in the Tampa Bay area for months along with other parts of the country.
What the heck is going on and how do you figure out if now is the right time to buy a home?
Do you take advantage of the ridiculously low interest rates or do you wait until there's more inventory?
Will those interest rates still be low once there is more inventory?
What about another housing market crash?
What if I buy now and then it becomes 2010 again and home values plummet?
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Here's what we touch on in this video:
0:00 2020 perspective
1:53 Tampa Bay area closings
2:52 Why is this happening?
3:06 What about unemployment rates?
3:26 Working from home
3:47 Current market situation
4:34 Last housing crash
5:06 More foreclosures?
6:15 Low interest rates
7:42 Home inventory
9:55 Housing needs
I know you're probably thinking, "Well, she's a real estate agent. Of course she's going to encourage people to buy homes..."
But I want to say that I never encourage anyone to buy homes who don't want or need to purchase homes. People have different reasons including getting married or divorced, starting a family, kids going to college, etc. Life continues even in the worst of times.
Regardless of what happens to the economy, look at your own financial picture and personal situation to determine if buying a house now is right for you.
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Melanie is a Tampa Bay area Realtor with Smith & Associates. She loves Tampa Bay area area, houses, and helping clients buy and sell real estate. She can be reached at 813-368-6084 or email@example.com
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