Quote:
Originally Posted by x3sm
I'm in Real Estate and I can tell you that historically low rates are a big contributor to the hot market. Most buyers know the pandemic is temporary and treat it more like a natural disaster. I have people getting 2.5-2.75% on a 30 year. Also, what we are seeing is nation wide low inventory, it has been dropping combine that with best rates in history and demand is high!
Like someone else also mentioned the high unemployment is for certain sectors only and those people were not really in the market to buy properties anyways.
I think inventory is low because builders/flippers are not making as much money as before due to all of the requirements/permits it takes to build that only big guys are still doing it and they are not interested in smaller communities. Most builders I know don't even build less than 400k, not worth it to them.
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Can I PM you for specifics regarding our current situation if I made the right move regarding our current loan? Thanks!