Helen Hanna Casey, CEO of Howard Hanna Real Estate, recently spoke with KDKA News’ Meghan Schiller about the housing market and buying a home in 2020.
During the news story, Schiller reported that 2020 has seen the average price of homes increase and asked, “What’s a potential home buyer to do?”
Casey joined Schiller to answer this question and discuss why people want to move. She explained during the interview that while low mortgage interest rates play a role in demand, the pandemic is also a driving force behind the public’s desire for an updated place to live.
“I think you have to put all of those factors together. That we have a shortage of housing, incredible rates that may never come again, and buyers who are looking for something more than they had before.”
A key bit of advice offered by Casey to the Pittsburgh region in particular was, “Don’t panic when you see the prices.” With lower interest rates, people are paying less each month, allowing them to upgrade and move to a new house as a result.
This is also the perfect time to buy a home that is in great condition but perhaps has some outdated rooms or décor, Casey explained. That’s because buyers can get a great deal on these houses.
To watch the full interview, click here.