What’s the latest news from our real estate market? By my count, we’re into month six of the coronavirus outbreak, and housing markets across the country have bucked the trend of economic markets. It’ll be interesting to see how the layoffs from Disney and other major companies will impact real estate in the coming months, but for now, we’re in a good place. Interest rates are insanely low, and that’s driving affordability. In turn, this affordability is causing significant price increases across the Tucson, San Diego, and Austin markets.
To get the full scoop on our real estate market and what the data shows, watch the video above in its entirety. I’ve also provided timestamps so you can skip ahead to various sections at your leisure:
1:24—Why the increase in average home prices means the tide is rising
2:06—What’s causing prices to increase?
2:57—Why we may see some price softening in the future
3:53—What does this mean for buyers?
4:35—What does this mean for sellers?
5:35—Why you shouldn’t try timing the market
6:39—Wrapping things up
As always, reach out to us if you ever have questions on the market or need help buying, selling, or investing in real estate. We’d be more than happy to help.