Normally, spring and summer are prime home-buying times, and with the COVID-19 pandemic, we have seen incredibly low-interest rates. That is a great draw for buyers, but with resulting stay at home and safer-at-home orders issued by different states; many are wondering if now is a good time to become a homeowner. Here we will look at a few considerations to keep in mind if you are looking to purchase a house during these uncertain times.

Despite the list of evolving challenges, one thing that is still true this buying season is that there is a lot of pent-up demand. Although some of the conventional thinking on what makes now a good time to buy remains true, there are new factors for home shoppers to consider, especially since the last recession was drastically different than this one.

New reports on the housing market predict that the recovery is likely to take the form of a flying W. Realtor.com has forecasted a W-shaped path forward noting an initial sharp drop this spring, a noticeable rebound in the summer followed by another dip in the fall, and finally, a stable road to recovery by spring 2021.

Many industry insiders believe there were many homebuyers that had made the decision to sell and buy this spring, which is going to represent pent-up demand released when the economy starts to open up, likely around the summertime.

If becoming a homeowner is your goa list for 2020, now may be a great time to start the process. Contact Metrowest – our experienced agents would love to help!