Realty Updates | The Prominence of Virtual Tours, All-Cash Sales & Decreasing Rates

  • Interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021. (Freddie Mac)

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  • All-cash sales now make up about 36% of the market. (realtor.com)

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  • Throughout the coronavirus pandemic, one in every 20 homebuyers purchased a house sight-unseen.. (National Association of Realtors)

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  • Over 25% of respondents said lower interest rates was the most significant motivator in Metro Atlanta area purchases. (Atlanta Fine Homes Sotheby’s International Realty)

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“We expect home sales in 2021 to come in 7.0% above 2020 levels, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.”- Danielle Hale, Chief Economist at realtor.com 

Buyers viewed five homes online and four homes in-person during the pandemic, compared to nine homes in-person in 2019, according to NAR. This was the first year NAR asked buyers to specify the number of homes toured virtually.”- Yahoo Finance