With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Existing home sales jumped strongly in March 2015 and home prices have risen sharply in many markets over the past few years as inventory of homes-for-sale continues to be rather low… while there’s sizable pent-up demand from people that have been on the sidelines but see low interest rates as very attractive for home buying. American buyers, alas, also face competition from international buyers. But, on the flip side, now would be a great time for foreign holders to sell their investment properties in the U.S. because this is a seller’s market and sellers could take advantage of a strong dollar… so where is the residential real estate market really headed?
Cash buying is also on the rise and distressed sales have been waning – pointing to a healthy housing market. So if you’re a seller, see how you can price your home to get multiple orders. Demand for housing is strong, and will drive home sales over the coming years as new and old buyers qualify for loans. Be that as it may, millennials continue to resist purchasing a home because they mistrust the system – perhaps for all the wrong reasons… but can logic and the proven long-term value of home ownership persuade them otherwise?