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Nick Pham, Broker

Nick Pham, Broker

Real Estate Market After COVID - 2021 Midyear Review

According to the Centers for Disease Control on the day we celebrate the birth of America, over 172 million Americans, or about 67% of the adult population, have received at least one dose of the COVID-19 vaccine. About 156 million have received both doses, or about 47%. As our Nation is getting back the “norm”, we could help to reflect upon our real estate market during and after the pandemic.

Most buyers and sellers are still surprised of the booming market we are currently in. When is it going to “burst”? When is it going to “slow down”? Where are all the “cash” and buyers are coming from? One thing for sure, the lowest interest rates have been the biggest fuel the sales across every markets. If you have been following my blogs and post, you will recognized the benefit of the lowest interest rate over the life of the loan. Over the life of the loan, homeowers will save hundred of thousands in interest payment. My professional opinion, our real estate market will continue “crazy” for the remaining 2021. Mainly because of the low inventories and the remaining low interest rates.

Until the mortgage interest rates go back the the “normal” rate, we will continue to have a very exciting dynamic real estate market! And I personally am loving it...

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Nick Pham, Real Estate & Mortgage Broker