What’s motivating people to buy homes these days?
With all the craziness in the world right now, why are so many people motivated to buy a home?
Of course, one key factor is our record-low interest rates, but I think it goes deeper than that. Rather, I think it’s tied to changes in lifestyle due to COVID. Many people have learned that they can telecommute, which allows them to leave the city for a more rural lifestyle. However, there are always the empty-nesters, retirees, upsizers, and others who need to find homes as well.
At some point, price pressures will moderate as prices outpace income, but for right now, Snohomish County continues its price march northward with nearly a 24% growth in the median-priced home.
If you’ve had a change in your lifestyle or sense one coming and you need to buy or sell a home, or if you have any questions about real estate in general, please reach out and give us a call or send an email. We would love to help you.