In December 2019, the coronavirus outbreak struck the whole world and it was never the same again. 2020 on the other hand, was a year where companies faced too many challenges, this is because many of their workers had to work from home for the fear of the pandemic. Now, as the effect of the pandemic, 2021 seems to be the year for the real estate sector. It is a year for the home sellers. Unluckily, for the home buyers, the year turned to be a hard-on since they no longer find the desired and the affordable houses.
After the Covid 19 outbreak, which caused lockdown in many countries, many home buyers flee away from the large cities. Running away from the crowded area where the disease was posing a threat to human life. Most of them wanted to live in areas where there are not crowded populations. Where exactly are these areas? The rural areas where their area is spacious and green. They only needed strong WIFI and green places to comfortably work from home.
Once the home sellers realized the trend, the rural homes became hotcakes. Their prices rose and the rents in the urban areas were dropping at a higher rate. In this article, we are looking at why you should sell your house in 2021.
- Rising home values.
In the US the house prices were going high throughout 2021, this has been the trend in 2021 so far. It is also being predicted that prices will continue rising as the pandemic is still around. This has made the value of houses very high as their demand increases.
Luxury houses are one of the most in-demand in the real estate sector, this makes them more valuable and as a result, their prices increasing.
- Low mortgage rates.
Once the home buyers started fleeing from cities, homeowners in the cities and together with the government had to lower mortgage rates as a way to counter house rents and buying costs. This makes it the right time to list your house for sale in 2021.
- Low housing inventory.
In the whole of 2020, house inventory went very low. This gave the sellers an advantage while boosting the value of houses in the country. With the increased demand and value the prices shoot high.
Many home sellers are selling luxury homes, cottage for sale in Montreal is one of the many houses on sale during this period of covid 19.