Last year was difficult for everyone. Especially people who wanted to invest or buy real estate. In the state of California, there were many changes last year in the housing market that were unexpected. However, we at Good Neighbors Moving have decided to try and talk about 2021. when it comes to real estate. Here are some real estate trends in California that are just around the corner.
Real estate trends in California – Is it time to sell or buy?
With the new circumstances, it’s really hard to tell if it’s better to buy or sell real estate in California. However, there were surveys of the population made, and they slightly prefer selling now than buying. The sentiment of them rather selling than buying, according to our movers West Covina CA, isn’t a coincidence. With the pandemic and the crisis, it’s harder for people to part ways with their real estate. Especially if you consider that it’s California we are talking about. In a state where everyone in the world would like to live in, it’s no surprise the prices are going up even in these difficult times.
Home sales and prices in 2021
When uncertain times knock on your door it’s really difficult to predict anything, let alone the housing market. However, it’s undeniable that the prices in LA have been going up for a while. And to be frank, our moving company Studio City had a lot more work lately. Here are just some reasons it is going that route at the moment:
- Desire to live away from the city
- Low mortgage rates
- Wealthy buyers have funds available immediately
The impact of COVID-19 on the market
The pandemic had a big influence on everybody’s lives and so it also made an impact on the housing market. Firstly, it got many people to steer away from buying new homes as it brought uncertain times. Above all, the COVID-19 pandemic made another hit on the market when the government issued a stay-at-home order. It blocked buying and completely changed real estate trends in California.
Quality of life tops the reasons for buying real estate in California
However, after the big hit because of the pandemic, this year many people expect a big comeback. The rate of buying real estate in California is rising and the reasons have changed for buying in comparison to where they were before COVID-19. Our local movers have noticed that more people are moving to areas of California that have a high rate of life quality. Beforehand, it was all about affordability. Looks like finally, people figured out that their health and well-being aren’t worth a couple of dollars less on the price tag of the home.
Like any market, real estate is very unpredictable. That was a true statement even before the pandemic hit. On top of that, it’s difficult to follow all the real estate trends in California in the last couple of months. For that reason, it’s important for you to first get to know California and then think about your moves in the housing market. If you follow your plan we are sure you’re going to be successful in the market, but also enjoy California at the same time.