Wednesday, January 26, 2022 / by Brian Armstrong
We are living in a unique era of real estate history in Vermont. Covid-19 has dominated the real estate market for two years, and it continues to impact the value and supply of homes across the state. If you tried to buy a home within the last two years, you know the forces you are up against. However, there are still opportunities, and many homes are still going under contract. Uncover the factors driving market challenges for buyers, and the likelihood of it letting up in 2022.
Mortgage rates were low in 2020 and have continued to fall even lower through 2021. Record low rates have driven more buyers into the market, even though it has remained strained with inventory shortages from 2020. The pandemic has created uncertainty, but the overall interest in homeownership steadily increased as other spending decreased across the economy. With that said, indicators show that interest rates may rise from these record lows in 202. ...