News & Blog

From REALTOR® Magazine: Real Estate Could See Best Winter Ever

Nov 22
Housing trend graphic
Despite high unemployment and an economic recession, “Existing-home sales in September climbed nearly 21% higher than a year ago, new-home sales are 32% higher compared to last year, and pending home sales or contract signings jumped 20.5%.”
In the article, Yun states that, “This winter may be one of the best winters for sales activity…It won’t match summer or spring sales numbers, but on a winter-to-winter comparison, this could be one of the best breakout years just based on the fact that pending contracts are at such a higher level.”
Contributing to this “hot” housing market as we head into winter are the record-low mortgage rates that are predicted to continue into 2021. Yun states that, “Some affordability challenges can be alleviated because of mortgage rates,” but, “if home prices continue to rise at this current level, it could chip away at housing affordability.”
A few other notable insights made in the article include the following:
– The economy likely will continue a strong recovery (but that’s dependent on a vaccine)
– Foreclosures likely won’t have a sizable impact on the market
– Housing shortages will persist
– Housing shortages will persist
To learn more or to read the full article from REALTOR Magazine®, click here.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR®, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.