The ongoing COVID19 pandemic has forever changed the way real estate looks. From how we hold open houses to changes in the market trends, and even how we interact with potential buyers and sellers. If you’ve been looking to sell your home but are reluctant to do so because of the unusual circumstances we are in now, you are not alone in this dilemma. Luckily, we have come up with some things you might want to consider while you’re making your decision.

 

Demand for Housing is Still Strong

While more people are hard-hit, and unemployment is hitting numbers unseen since the Great Depression, demand for houses is still going strong. The expected spring housing trends were pushed back to the summer season, and people who have been looking to move in spring are now looking for homes.

 

Supplies Are at an All-time Low

We have fewer listings compared to the past year, and Realtor.com reports in the weeks ending March 29 and April 5, the volume of newly listed properties decreased by 34 and 31% year-over-year respectively, the biggest declines for 2020.

 

Some Homes May Be Easier to Sell

Before you go about listing your home, it is important to note that some homes are easier to sell in the current situation. Factors such as proximity to the city and easy commutes have become less of an urgent requirement as more people and companies move towards working from home and telecommuting.

 

Consider Your Needs

If you have a particular reason or need to sell your home, such as needing to relocate, or having to downsize to avoid mortgage problems, then now is a great time to sell your home. Contact us to discuss your real estate goals for 2020 and beyond!