Those looking to buy a new home may have the most flexibility right now due to changes that have stemmed from the coronavirus pandemic.
Remote work has increased many consumers’ flexibility, making it easier to search for, and view, properties that they’re interested in. It also gives people increased flexibility to search in a broader area if they’re less focused on how close they want to be to a physical office.
Sales of both newly built and existing homes increased in July, along with the median sale price. What has not increased is housing inventory, which is one of the major factors related to the increase in prices.
However, low interest rates are keeping buyers in the market for now.