Thursday, March 18, 2021 / by Taryn Schaldach
What Does This Mean For Buyers?
Demand for homes has surged over this past year, as buyers took advantage of the record-low interest rates. The pandemic prompted many households to seek bigger houses that could better accommodate remote work. Home sales in 2020 rose 5.6% to the highest pace since 2006, according to the NAR.
Last time we last saw a housing boom similar to this, was back in 2006. Then, buyers were trading up to bigger, more expensive homes after just a year. Many home buyers were paying very small down payments, if a. ...