Strong Market in 2021
Ryan Schneider, the CEO of Reology (the nation’s largest real estate holding company), made some bold statements in his third quarter earnings call on October 29. He forecasts a strong market in 2021 due to continued low interest rates and consumer trends. What are those trends?
“In particular, we are absolutely seeing consumers migrate from urban to suburban markets,” Schneider said. “We are seeing consumers rotating within suburban markets, to find houses that better meet their needs as they work from home and we are seeing consumers accelerating their journey to attractive tax and weather geographies including the continuation of more second home purchases.”
A strong market may be good news for Realtors - more transactions lead to more commissions. But what does it mean for homeowners? For our clients, we look at the trends and ask “are your personal needs trendy, or are you interested in going against the grain to take advantage of the market?” Maybe you always wanted to live in an urban setting and want to take advantage of the increased inventory options in the city. Maybe you are approaching becoming an empty nester and want to downsize from your expansive home that would appeal to so many younger families with work/living needs. When you buck the trend, you win financially. And while you still want to live in a way that meets your needs, perhaps that financial gain will open other opportunities you hadn’t previously considered.
All the best,