Why Residential Home Sales Are Being Scooped Up by Investment Firms
House prices in the US have been scaling upwards for many decades. This trend did not change even with the emergence of the Covid-19 pandemic. Contrary to most economists’ beliefs, residential home sales skyrocketed as many city dwellers moved to the suburbs of the Southern States.
Not only were home and rental owners attracted by bigger yards and less populated neighborhoods, but the southern states also offered better working environments and lower taxes.
This created a strong demand that pushed housing prices up that only big investment firms have been able to afford and control. These firms have navigated disrupted supply chains that have caused high costs of building materials like steel, wood, and drywall and harnessed a steady supply of construction workers amid challenging immigration policies.
But here are some of the tips that experts now recommend if you are looking to navigate the competitive housing market today:
• Getting pre-approved for mortgages.
• Having a clear budget for housing expenses.
• Find a real estate agent that will quickly help you locate your dream house at a fair price.
Good luck in your hunt for a new home.