November 12, 2020 | Market Update

Market News 11-13-2020

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Mortgage Market Update

3 Reasons to Sell this Winter

Unlike typical winter seasons, winter is a great time to list a house. Sellers can garner top dollar this winter because home inventories are low, and demand isn’t slowing. As colder temperatures drive people indoors, homebuyers will continue to look for more space to accommodate working and schooling from home. Another reason not to wait – even if unemployment increases, the housing market is unlikely to slow down until spring.2

Avoid Decreasing Your Home’s Value

One of the best parts of owning a home can be customizing it to your preferences. While it may be tempting to eliminate certain features to make rooms larger or create a more open concept, keep in mind that taking out closets, bathrooms, and laundry rooms typically lower home value. Before swinging a sledgehammer, consult with a real estate agent to see how your vision could affect your future price.3

Heater Sales Take Flame

Move over toilet paper. Outdoor heaters are the latest in-demand item during COVID-19. Propane-fueled patio heaters are flying off shelves across the nation, smashing sales records as people try to extend their time outside while spending more time at home. Online retailer Overstock reported its sales of patio heaters from March 1 to October 1 climbed by an astonishing 1,150% in the Northeast alone. Consumers have joined restaurants and other businesses in wanting heat sources to accommodate outdoor gatherings.4

Sources: 2Realtor.com, 3MSN, 4Realtor Magazine