There has been one demographic that has not been as affected in this pandemic which is the #wealthy Americans. This demographic has been eager for more living space, has been on a homebuying frenzy. The demand for million-dollar homes is growing exponentially than any other price tier in this current pandemic housing market. Mortgage applications larger than $766,000 jumped 59% in the month of October!
Buyers with money have been rushing to acquire large #suburban #homes, where they can live more comfortably especially in this current pandemic era where more people are working from home, homeschooling their children, and people staying at home more often than ever before. New home builders like Toll Brothers have benefited from marketing their properties with backyards and ample space for home offices and zoom schoolrooms.
According to Chief Executive Officer Douglas Yearley, "Toll Brother's is currently experiencing the strongest market within the last 30 years." He attributed to a strong quarter due to low borrowing costs, an undersupply of new and previously owned homes, and "a renewed appreciation for the home as a sanctuary.
This pandemic era has also created a #homebuying surge in once believed to be second and vacation homes to now are considered primary residence since now more people are able to live and work anywhere.
As always, if you or if you know anyone looking to #buy, #sell, or #invest in #realestate I would be honored if you would refer me.
Thank You,
Qierre McGlory
Keller Williams Realty
Realtor
01938370
(714) 577-2787
qierre.mcglory84@gmail.com
www.uncoveryourhome.com