4 things to know about the housing market shifts

<p>Hi Money Bosses! Today I wanted to chat with you about the four things to know about the housing market shifts. These market shifts that I have noticed could help you make a decision about whether you are ready to embark on the journey of trying to buy or sell your home.</p><p>Last year, even during the pandemic, the housing market increased. There was a high demand for homes last year. The average median home price is up by 24% since before the pandemic!</p><p> </p><p>The four shifts that I have noticed are:</p><ol><li>More homes are going on the market.<ul><li>Last year, even during the pandemic, the housing market increased. There was a high demand for homes last year.</li><li>Homeowners have been waiting to see what was happening with COVID and a lot of people were waiting to sell their homes during COVID.</li><li>The difference between where the housing inventory was in April 2020 and April 2021 increased by 23%!</li></ul></li><li>Buyers are pushing back at home prices.<ul><li>Although a lot of people saw this as a good time to buy a home or buy a bigger home,  a lot of people saw giant price increases and thought "Why are we going to pay this amount?"</li></ul></li><li>Mortgage interest rates remain low.<ul><li>Interest rates were very low and are still low.</li></ul></li><li>Foreclosure memorandum is coming to an end.<ul><li>This forebearance on foreclosures allowed homeowners to defer payments for those who lost their jobs during the pandemic or who couldn't make payments. This will be ending in a few short weeks (September 30).</li></ul></li></ol><p>There is a lot to think about with those who are wanting to buy or sell during this time. It is currently known as a seller’s market but if you sell you need to be ready to buy and keep in mind these four things that I have shared today.</p><p> </p><p><strong>EPISODE SPONSORS</strong></p><p>Money Flow System - <a href="https://money-flowsystem.com/optin27480464"><strong>Download Free Money Flow Playbook and start automating your finances. </strong></a></p>