A Quick Look at Real State of the America’s Real Estate

The Covid-19 pandemic has devastated the world economy, but even the ripple effects of virus’ spread has done little to slow down homebuyer activity in the United States. According to Kim Coyle, the co-founder of leading home selling service, Property Buyer Today, LLC, “Everyone thought that 2021 was going to be a really terrible year, but with the way things are looking, it doesn’t seem like that is going to be entirely true. In fact, low inventory and high demand has caused the prices of properties to significantly soar the past few months.”

Kim Coyle adds, “But don’t let these numbers fool you. Any seasoned real estate investor knows that in order to see the real picture of the industry, you need to go beyond demands and selling prices of properties. And honestly, if you take all the data and analytics into consideration, things do not look as pretty as they appear.”

She adds that according to studies released earlier this year, around 10 million Americans are behind not just on their rent, but utilities as well. That’s roughly around 18% of all renters in the country. Meanwhile, another study conducted towards the end of 2020 suggests that 2.8 million American homeowners have mortgages that are in forbearance. In simpler terms, this means that they’ve requested for a pause on their mortgage payment. This current point in the housing climate leads to increased speculation and interest. 

“Fact is, many are still struggling financially. Regardless though, people are still making efforts to be able to afford a new home. The stay at home order has forced the function of our homes to evolve–from a place of rest to a place of just about any activity you can think of. This is one of the key drivers for property demands. People have spent less money throughout the pandemic, which in some cases, has led to more people having more resources for a payment on a home. That said, while vaccination is helping alleviate some of the trends caused by the pandemic, we still have a long way to go before we can actually say that we’ve bounced back,” Kim Coyle adds. 

Property Buyer Today, LLC is a leading real estate consulting agency that services Philadelphia, Charlotte, Tampa, and much of the United States as a whole. They’ve been buying and rehabbing homes for more than 20 years now and are known for offering homeowners an easy way to sell their houses fast. The company prides itself with the ability to provide clients with a simple selling process that leads to quick cash settlement. To know more about them, you may visit https://www.propertybuyertoday.com.