The pandemic is revving up the higher end of the market and nudging more sales over the $500,000 mark from California to the New York City suburbs. In a historic turnabout that’s one of the biggest, most underreported stories of the COVID economy, higher priced homes—which almost always lag in a surging market—are racing neck-and-neck with the sizzling low end. The reason: Americans no longer need to commute to an office and can work from anywhere. So they’re buying a bigger house where they can Zoom with colleagues from expansive home dens, spend weekends poolside, and watch their kids frolic in a big backyard. This article dives deeper as to why the upper-end market is experiencing more activity.
If you’re in the market to purchase a home above the conforming loan limit, we offer Jumbo loans with only 10% down. And, this includes second or vacation homes and investment properties, too.