The obscurity of Covid-19 reshaped the functioning of all industries fundamentally. The uncertainty of the pandemic only assured the market to drop, with no easy answers. Although it is essential to understand the investment statistics, even during the best market conditions, the pandemic ordered a sharp drop in demand for commercial properties but saw a significant rise in the housing property demands.
The residential real estate market saw potential growth during the pandemic in the second quarter of 2020 while the first quarter saw a dip of 2% to 3%. However, the market will continue to thrive throughout 2021. Investors who understand the risks look forward to the high-growth opportunity zone for investments. Therefore, 2021 is said to be an adequate year for precisely investing in the Real Estate market of the United States of America.
While many countries have restricted foreign investment and purchase projects, amidst the on-going pandemic. The United States of America real estate market thrives to flourish through an integrated approach to revenue generation. The potential growth in the demand for residential properties will increase by 8% in April 2021.
The phase of the pandemic has ensured ‘home’, to be of extreme importance, while many are working from home, parents working and teaching their children from home, the space in the house has become a necessity. A prolonged pandemic and the work-from-home environment has had 63% of working millennials to plan a purchase, during and post the pandemic.
The investors have been banking on the real estate market of the United States of America, for decades, with a strong investment portfolio. Therefore, the investors are now focusing on lower interest rates, better purchasing power and strong buyer demand (majorly first-timers) in the contemporary phase. The sales in August 2020 saw a boost of up to 43%.
Capitalizing residential properties during the on-going pandemic, will procure elevated returns and increase the mortgage amount post with the pandemic. It will boost profits since there will be a lack of inventory of new houses in comparison with the demand (considering that the constructions have been suspended).
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