The Highs and Lows of 2020’s IndustryTrends
Sponsored Advertising Content T he real estate industry has changed a lot this year in response to the global pandemic and a fluctuating economy. Despite these new challenges, many investors, flippers and home buyers are still searching for the next addition to their real estate portfolio or a home to call their own. Those in the market will discover a “new normal” of industry trends. Two of the most significant trends in 2020 have been increased home prices and record low mortgage rates. years and the trajectory for 2020 has been no exception. Costs have grown by around 8% , a notable increase for buyers to keep in mind before making a home purchase. Properties that may have been within budget this time last year could be just out of reach now. This bump in home prices doesn’t spell doom for buyer aspirations — opportunities are still available. By simply doing some focused research and leveraging the right resources, buyers may be able to find their ideal property without breaking the bank. HIGHER HOME PRICES Home prices have gradually risen over the last two On Hubzu , a leading online home auction marketing platform, buyers can choose from thousands of homes up for auction across the country. Hubzu’s search tool allows users to filter for property type, location and most importantly, price range. Knowing that home prices have seen an uptick this year, buyers can use these filtering
options to narrow down their search results and pinpoint the right property for their budget.
LOWERMORTGAGE RATES As home prices climb in 2020, mortgage rates have fallen to historic lows. Rates for 15-year and 30-year fixed mortgages have decreased, with the market seeing percentages as low as 2.82 and 3.45 respectively. For those looking to flip an investment property, this offers a potential selling point for prospective buyers who can take advantage of some of the best rates available. Marketing a renovated investment property while rates are at an all-time low may attract a larger pool of buyers who have acquired more affordable, long-term financing. Rates can change daily, so tracking the latest numbers may help home flippers target buyers looking to save thousands in mortgage payments. In 2020, home buyers and sellers may have to contend with some uncertainty in the market, but these industry trends may play in their favor. Home prices have increased slightly, but with the right tools, buyers can still find properties that fit their budget. Current historically low mortgage rates also have the potential to soften the effects of rising home prices, enabling investors to attract confident buyers . Visit Hubzu.com/ThinkRealty to find and bid on properties in your area.Visit Hubzu.com/ThinkRealty to find and bid on foreclosures in your area. •
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