Q: What’s Going On in Our Real Estate Market?

Here’s what’s going on in the North Fork real estate market.

Before we get into the market data, I want to thank everyone who came to our Fall Harvest Party 2020. We had a terrific time and there was a wonderful turnout. We’re currently in discussions about what our next holiday event will be since factors at play this year make gathering somewhat difficult. If you have any suggestions, let us know!

Now, what’s going on in the market?

Inventory remains historically low, and interest rates are even lower. As such, the housing market is hotter than heck! Builders quit building homes awhile back, which contributed to our shortage of inventory. We’re also watching a surge of people leaving urban centers to go to more rural areas, at least in part related to civil unrest and various other issues.

I will say, though, that if you’re looking to buy a home, the market is good. I’m personally buying an investment property that we’ll close on soon. With a 3.5% interest rate, I got an amazing deal that saved me around $150 a month. Low interest rates mean your money goes further than in previous years.

We have a lot more great information about the market, so if you need help, reach out to us at North Fork Realty. We’ll give you the best, world-class advice we can possibly give. Hope to hear from you soon!