Buying & Selling a home is a big deal, make no mistake about it! Making an investment into real estate can be stressful and the uncertainty of todays market can make things even more unsettling. Yet, we’re sitting in an optimal moment in time for homeowners who are ready to sell their homes and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Couple this with the fact that here in the Charleston area, the market is definitely low on inventory. Many builders are now offering homes that are scheduled to be built as far as 6 to 8 months out.
Due to low inventory on the market and gained home equity, many sellers are finding it an wonderful time to sell. Increasing equity is enabling many homeowners who are ready to sell their current homes today to sell for an increased profit, and then reinvest their earnings in a new home. And due to amazingly low interest rates, it’s no surprise that buyers are out in full force today. Many Americans now need more space to work from home, and the current low mortgage rates are providing an extra boost of motivation to enter the housing market. Market experts seem to agree that residential real estate is doing remarkably well here in Charleston despite the current pandemic. If you’re thinking of jumping into the housing market (whether buying or selling), this may be the perfect time.