The coronavirus has caused our market to slow down, but this won’t last forever.
How is the coronavirus affecting our real estate market?
It’s a tough time for everyone, but it’s particularly tough for buyers and sellers. Over the past couple of weeks, we’ve seen the market slow down, but it hasn’t stopped. People always need to buy and sell homes. There’s always someone who needs to move. Leases are still ending. We’re still coordinating closings.
This won’t last forever, and those of us in the industry are being as safe and responsible as we can be.
For example, a client of mine recently decided to sell their rental property after their tenant’s lease ended. Since we knew things were slowing down, we planned to get the property on the market early. The first weekend the tenant was out of town, we held a series of private showings for the home (open houses are against CDC and NAR guidelines). During each showing, the buyers and I observed social distancing protocol and nobody touched anything. After the showings, I resanitized every inch of the house, which the tenant and the owner appreciated.
In short, I don’t think we’re in store for armageddon. Things will turn around eventually.
If you have more questions about our market and how the coronavirus impacts your buying or selling plans, don’t hesitate to call or email me. I’m here to help.