What Will Happen to the Real Estate Market?
First and foremost, we pray that you and your family are safe as the US hunkers down to ride out the pandemic sweeping the country. We have gotten a lot of questions about how this is going to affect various markets, and we want to help our clients make confident decisions regarding their real estate plans. If you’re considering buying or selling a home, it is key to educate yourself so that you can take thoughtful and intentional next steps for your future.
Rick has been selling homes for 27 years and this is nothing like the housing crash in 2008. We feel this is a temporary and necessary pause. As soon as threat of the Coronavirus has passed, Buyers are going to be very eager to start looking. Sellers who are prepared ahead of time will be in the best position to sell.
➜Yes, there are Buyers out looking now. We had two different people call today who were out driving around and asking about homes and neighborhoods. Our current listings are getting showings and offers.
➜Yes, there are still new listings hitting the market. We have Sellers who flip homes nearing the end of complete renovations, as well as another Seller with new construction homes in the city that we will begin marketing. Other than our current listings and a handful of vacant homes, most of our clients will wait until this has passed to list their home.
➜Just think of the demand at that time! We went into this with extremely low housing inventory, combined with very few new listings coming on market during the COVID-19 outbreak PLUS historically low interest rates.
If you are a Buyer, reach out now to be on our list to get info about pocket listings.
If you are a Seller, reach out now to get advice from a trusted real estate advisor who is fully confident in the real estate market. The full impact of the Coronavirus is still not yet known. It is in times like these that working with an informed and educated real estate professional can make all the difference in the world. Stay healthy and safe!