The real estate market has had its ups and downs in 2020. When COVID hit in March, the market all but came to a standstill. But that changed in the summer – and buyers are now out in full force, driving major increases in both home sales and home prices, and ushering in one of the most active fall markets in recent history.

According to data from the National Association of REALTORS®, in October, existing home sales were up nearly 27 percent from October 2019.

And all of that growth? It's projected to continue through the holidays and into the new year.

"With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3 percent in 2021, I expect the market's growth to continue into 2021," said Lawrence Yun, chief economist for the National Association of REALTORS®, in a recent article for REALTOR® Magazine.

So, what does that mean for you? Buyer demand is extremely high right now, which is driving up sales, competition and prices – so, if you've been thinking about selling your home, now is a great time to make a move.

If you are looking to buy and/or relocate, you are not alone. A recent survey from LendingTree found that nearly half (46 percent) of respondents were planning to relocate in the next year – and that number was even higher for people who can work remotely (64 percent).

The biggest factors driving relocation decisions included:

• A desire to reduce living expenses (44 percent);

• Feeling their current home was too small (27 percent); and

• Looking for different features in a home (27 percent)

So, what does that mean for you? If you've been thinking about selling, with so many Americans considering relocation in the near future, many of those people are going to be in the market for a new home – making now a great time to list.

Whether thinking of buying or selling, it is a big decision and navigating the process successfully will be a breeze with your agent by your side.