The New Norm for Real Estate

Have you been worried about buying or selling a home because of concerns about the coronavirus? As new numbers and information comes out daily, we’re doing our best to adapt and to help alleviate any stress you might be feeling surrounding selling or buying right now. The truth is, there is still a lot unknown about how the Coronavirus will impact the housing market. Here’s what we know so far. 

The first, and possibly most important, thing to remember is real estate isn’t stopping because of the coronavirus. According to a Ky3 article (https://bit.ly/ky3covid19) posted on March 24th, Realtors, leasing agents, building/housing inspection services, movers and other services necessary to help people find or maintain housing are classified as essential in Greene County. People are still listing their homes, too. As of March 20th, there were 435 new, active properties not under contract within 50 miles of Springfield. That number doesn’t include the 242 pending contracts and 310 closed listings at that time. This means, as of right now, you don’t have to worry about the time-frame for selling or buying a home being extended too much by the coronavirus. 

Another thing that’s important to keep in mind is that buying and selling houses right now can only help the housing market. In fact, as things develop with COVID-19, there may be new positives involved in buying a home—especially for the first-time home buyers. If sellers begin to worry about the market, listing prices may begin to drop. That will make it a great time to buy your first home because you won’t have to worry about the selling side of the equation at all. Other good news is that, “the Federal Reserve is on an asset-buying spree in an effort to keep the housing market afloat and to keep mortgage rates from rising (https://bit.ly/federalreservesarticle).” This means there are steps being taken to minimize the impact of the coronavirus on the market.

Lastly, it’s important to keep in mind that people can buy and sell houses safely, even during this outbreak. Holt Homes Group’s number one priority right now is your safety. We’ve been taking various steps in order to make sure you feel safe both as a seller and as a buyer. Some of the steps we’re taking include virtual open houses, video conferencing, virtual listing appointments, virtual showings, emailing, and facilitating signatures online. 

If you still have any questions or concerns about how the coronavirus might impact you selling or buying a home, we’d love to chat with you about it! (417) 812-5055