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Fall of 2020 Real Estate Market Update

Bob Kutscbach, owner and broker of Carleton Realty, breaks down the fall of 2020 housing market in Ohio. 

The Central and South West Ohio housing markets are red hot! These two markets are 2 of the top markets in the U.S. We continue to have more buyers than sellers. COVID- 19 has caused sellers to choose to remain in their current homes, worried that they will not find a suitable home to buy. While there are ways to protect sellers in this situation, writing in the contract that sellers are to find suitable housing, most are not ready to sell.

Typically, when school starts in the fall, the housing market slows down significantly. It could be the homeschooling and virtual learning trend that is causing the market to stay strong. If you are thinking of selling now is the time! There has not been a better fall housing market in memory.

Unfortunately, this is a frustrating time for buyers. With homes selling so quickly, you must go to a house the first day it is listed to have a chance to write an offer on it. The homes that remain on the market for any length of time are either overpriced or in poor condition. Right now, the condition is the number one thing that buyers are looking for.

The federal reserve has said that they are keeping interest rates low. This is one of the driving factors in why we have more buyers than ever. With mortgage rates low and housing costs being so affordable, renters are choosing to buy instead of continuing to pay the rapidly rising rents. It makes more sense to have one’s housing cost to be predictable.

If you have questions about today’s market, buying or selling a home, reach out to one of our agents!

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CARLETON REALTY has been helping clients buy, sell, and manage real estate including residential and commercial properties throughout Ohio for over 25 years. With over 200 agents and 8 administrative staff members working under an experienced licensed broker, our team offers extensive expertise and knowledge about your local real estate market. Our agents come from diverse backgrounds, and collectively speak over 20 different languages. Our team has the ability to help clients feel educated and empowered throughout real estate transactions who may have otherwise needed a translator.

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