We should admit, that 2020 was definitely a challenging year for all of us. So what happened to Real Estate market after all this global pandemic situation?

Whenever you are selling or buying commercial property, some of these trends may be quite surprising for you!

First Of All, Low Inventory On The Housing Market

In 2021 Inventory has been unbelievably low. It has downed to nearly 20% compared to the previous year — there are just not enough houses on the market to meet buyer’s demands. That may lead to the necessity of sacrificing some particular wants and demands and expanding your search in less popular neighborhoods. And that also leads us to another trend.

Mortgage Interest Rates Are Super Low Too

Interest Rate, as we know, is the percentage of principal charged by lenders for the use of their money; the principal in that case — is the amount of money loaned. Interest Rate directly affects the cost of loans and, as the result, can speed up and slow down the economy.

For example, average Interest Rate for a 15-year fixed-rate mortgage dropped to 2.31% in November 2020 and, as economists expect, will not exceed 3% in 2021, which is still quite low. For buyers such Interest Rate means increasing property affordability and for sellers, well, it’s rather obvious — more closed deals.

Next Trend — Home Prices Rising

Not so encouraging trend in our list — the rise of home prices. In November 2020 existing home prices grew about 15% compared to 2019, which lead to significant rising of national price median.

Online Real Estate Services Are Very Popular Right Now

Not so unexpected with the whole «stay at home» situation, right? No doubt, you have already heard about various Real Estate online platforms, which help to connect sellers to buyers or, in our specific case, borrowers to lenders. Our collaboration platform, ReadyLendGo, is a unique type of platform that gives borrowers direct access to commercial real estate opportunities, allowing you to compare and personally choose the deals that meet your own specific needs.

With ReadyLendGo you can get the best deals in commercial Real Estate all over the country.