According to Forbes, “Mortgage rates hit another record-breaking low this week”. This is the fourth time this year a new record-low has been set. And the real estate market is responding. More home buyers are applying for mortgages and more home owners are applying for refinancing. Most projections have the rates remaining low through 2021. As Americans start looking at their options, one thing is certain. Sellers are in demand so if you are considering upgrading or moving into a newly-built home, this is a great time.
The same is reflected in Northern Virginia with real estate activity in full swing. “It is a great time to be a seller in Northern Virginia,” said Nicholas Lagos, 2020 president of the Northern Virginia Association of Realtors (NVAR). “Last month, there were 21% more new listings on the market in the NVAR region than we saw in May, and new listings were also 1.5% above the number we saw in June last year,” Lagos is quoted in an Alexandria Living article.
So for those looking to take advantage of current trends in the market, here is this summer’s Selling Guide with great information for anyone thinking of putting their homes on the market.
DOWNLOAD THE 2020 SUMMER SELLING GUIDE
Feel free to reach out if you have any questions or need more information.