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Home-Buying Demand Surges 17% from Pre-Pandemic Levels

Posted on May 28, 2020 (January 28, 2023) by Vinny Steo

Home-Buying Demand Surges 17% from Pre-Pandemic Levels

Home-buying demand is now 16.5% above pre-coronavirus levels on a seasonally adjusted basis, driven by record-low mortgage rates
Demand for homes is far outpacing housing inventory. 45% of homes were on the market less than two weeks for the first two weeks of May.
3D and virtual homes tours are becoming increasingly more popular as tech native Millennials prefer the use of technology.

Home-Buying Demand Reaches New Peak

Home-buying demand surges and is 17% higher than it was before the pandemic, on a seasonally adjusted basis. Following the turmoil and adjustments many made to the new working environments fostered by the COVID crisis, the real estate market was active as home-buying demand surges. Accordingly, mortgage rates have stimulated the housing market, with the average 30-year fixed-rate mortgage at record lows of 3%. The combination of these factors has been a real estate market that is red hot and rife with activity. Naturally real estate markets ebb and flow with consumer demand, pricing, and interest rates.

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If you are in the market for buying or selling a home, Vinny Steo is your best choice in Bel Air, Maryland to help you. Call us at 410-220-0016 or fill out the form below.

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"I highly recommend the Vinny Steo Real Estate team, especially Lawrence and Jessica who have been nothing but fabulous to work with! They helped us in every step of the the selling process greatly reducing our stress levels. Furthermore, they sold our father's estate quickly and for more than the asking price! Thank you, Vinny Steo team!"

Taylor King

"Aaron held an open house, received multiple offers, and finally sold it for $5K over our asking price. Would certainly recommend them to my friends and family."

Craig Andresini

"Vinny has been such a tremendous help to our family. Being first-time home buyers can be a very daunting experience for some people, but with Vinny's help, diligence, and organization, the process seemed much easier than we expected. He works very hard for his clients and we plan to use him as our realtor for future real estate purchases."

Paolo Bartolome (Pb)

"Kristen was absolutely amazing! She’s very patient and ensures you find the perfect home. We have a young child and she was so kind and kept him involved in our home buying process. She was quick to respond to any questions we had and put any concerns at rest. Thank you so much again for everything!"

Trevor Martin

"Vinny Steo’s team helped me to sell my home in Belcamp, Maryland. They gave me excellent advice for what needed to get done in order to ready the house for listing. Their superb marketing resulted in 16 offers within one day after the open house, and getting to a sales contract with a buyer in less than a week. I highly recommend the Vinny Steo team. I would have them help me to sell a house again."

Hey Zeus

"We used Vinny Steo to sell our property. Their approach was professional and positive. Vinny secured a smooth sale and an excellent price for our home."

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"Lawrence was great. He work with us through the process. Making sure we understood each step. He was able to accomplish everything he told us plus much more."

Jetta Krempel

"Aaron and the team made this the easiest process for me. Their attention to detail made for a quick sale. Thanks!"

Joseph Tretta

"I want to thank Krissy for doing an outstanding job. She was very professional and answered all calls and messages. During our initial meeting, she went through the marketing process, detailing every step, from preparing the house for the showing to the settlement date. She went over our asking price and the profit we would make if we sold our home for that amount. I am extremely happy to say we received 12,400 dollars more than our asking price. Do not hesitate to call Vinny and his associates."

Scott64

"Vinny Steo was excellent to work with - they went above and beyond to help me find and buy a home - many times meaning late nights weekends. Vinny Steo was very professional and gave me his honest opinion about properties and how to proceed. I love my home and am so glad Vinny helped me buy it! I would recommend him to anyone!"

Zureil Fernandes

"We feel exceptionally fortunate to have engaged Vinny Steo for our relocation. Our initial phone call with Vinny when we were looking for a realtor was very positive – he was extremely helpful in providing information."

Jhon Ray Tan

"Vinny is wonderful and easy to reach. Vinny expertly handled all our first-time home buyer questions (and we had a lot). He helped us find a great place at a reasonable price!"

Diana Marie Siman

"My experience with Ashley was absolutely fantastic. Every conversation with her is professional and very informative. So glad I have had her to help me. Thank you so much Ashley Waldo for everything!"

Stephanie Wenger

"Vinny Steo and Lawrence Quigley did an outstanding job in helping me sell my home. If you are looking for a professional team to sell your home then Vinny and his team are your guys and girls!"

Ira Siegel

"Aaron was helpful and responsive when I needed to find a house and get moving quickly as my lease was ending. He managed to set up several appointments quickly and make helpful suggestions in the offer process that helped the offer to be aggressive and well-received."

Matthew George

"I had wonderful experience selling my home in Lochearn. It was easy and now I can rest easy in my new place."

Ethel Green

"Vinny genuinely cared about helping me find my first house. He walked me through every step and offered his insights without over-powering my tastes or concerns. I appreciate all his help!"

Deng Marucut

"Sold my house in Bel Air. Great support and great people helped guide me through a transition from my long time home to the next step in my life. Thank you."

Fran Boyce

"Vinny Steo found our dream home. Vinny's advice and support through closing were invaluable. He was polite, available, friendly, and knowledgeable. We could not have done it without him."

Geonalyn Artus

"We are very pleased with the way Vinny Steo handled our purchase of our home. They were prompt, friendly, and very knowledgeable. Vinny followed up on any and all concerns. He was our advocate throughout the process. This isn’t always true of realtors we’ve dealt with in the past."

Russel Buergo

"Wonderful wonderful people to work with. Erin was so lovely and amazing to work with! Erin and the Steo Team made the process of buying a home such a great and stress free experience. They are an epitome of how great customer service should be!"

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"This was my uncle's house [Estate] that was being sold. Krissy and the team were great to work with. Always available 7 days a week. If not at that moment, then definitely a timely response. We went through a couple of contracts by no fault of YHSGR. The final showing went live in the morning and I had a signed offer/contract by lunch time that same day. I will always recommend Vinny Steo if the subject arises."

Tony Lysakovski

"Vinny's team is incredible. They are easy to work with, detail-oriented, and always go the extra mile. 12/10 recommendations!! We will never buy without him again - Vinny made the entire experience as stress-free as possible!"

Maricar Dizon

"I had an amazing experience working with Your Home Sold Guaranteed Realty - Vinny Steo. His advice on what needed to be done was spot on to get us our full asking price. His team was so knowledgeable and quick to update us on everything."

Stacy-Ann Bryson

"We definitely recommend Vinny Steo, Lawrence, and the whole team at YHSGR to sell your home. They really live up to what they say. Thank you, Vinny!"

Neil Paugh

"My experience was awesome! Aaron was on the ball from the start. Within days, he had the property listed and sold! I would highly recommend him to assist you. It was a very smooth process."

Lavern George

"We have loved working with Vinny. He was very patient walking us through the process and answering all of our questions. We would recommend him to anyone looking to buy or sell a home."

Michael Arceo

"Krissy on the Steo team was wonderful in finding me a first new home. I told her what my price range was and had my pre-approvals ready for her. Only took a couple of days and she found me my first home! I would recommend everyone to work with her! She was awesome! Anyone ready for a new home start packing before you talk to her!"

Ginger Yocum

"Your Home Sold Guaranteed lived up to all their promises. Great job with my Bel Air home. Thank you!!!"

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"Great company. Love having a guaranteed sale. Appreciate everything."

Kathy Verbiar