How has the real estate landscape in your community changed due to COVID?

Mary Davis from Realty Professionals of TexasAnswered on Jan 19th, 2021

Housing in Texas has remained strong even in the midst of the pandemic and shelter-in-place restrictions. Inventory in our area has been at a 40 year low making it a great market for our sellers.  Buyers are egger and are well financed adding extra concessions we haven’t seen in a while.  Millennials are making their move into the market and have been the last few years.  Their full penetration into the market has not been fully realized. Millennials were responsible for the largest share of primary home purchase mortgages in 2020.  None of us have a crystal ball but with rates still low, vaccinations on the rise, and consumers having more savings then in past decades, our market continues to look bright.   The new administration coming into office this month has the potential of raising future rates and increasing inflation, but only time will tell.