The Best Way to Think About COVID-19’s Impact on Real Estate
Real estate is still moving, as many in the market have a genuine need to buy or sell. Here’s how buyers and sellers alike are proceeding with caution in this odd spring market.
While fielding many questions about the coronavirus’s impact on our real estate market, I’ve found it helpful to liken the situation to a sort of ‘second winter.’ Every year, winter brings harsh weather, a lower number of active buyers, and a lower number of listings. That’s what we’re seeing now, and just like in winter, only the most serious buyers and sellers remain.
Statistically, there are far fewer showings than normal for this time of year, though there are far more contracts being made as a percentage of those showings. To learn more about how we’re adjusting to the new norm, watch the short video above.