Are You Ready For The Summer Housing Market?
As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of homes for sale and slowed the pace of a typically busy spring real estate season.
With many states beginning a phased approach to reopening, virtual best practices and health and safety guidelines for the industry are in place to increase the comfort level of buyers and sellers. What we see today, though, is that sellers are still making a very calculated return to the market.
Although we're starting to inch our way toward more homes for sale throughout our community and country, the number of homes on the market is still well below the demand from buyers. We are seeing a huge influx of buyers from the city wanting to build roots in the suburbs.
What we can see today is that homebuyers are more confident than the sellers, and they’re ready to make up for lost time from the traditional spring market. Summer is gearing up to be the 2020 buying season, so including your house in the mix may be your best opportunity to sell yet. Interest in your house may be higher than you think with so few sellers on the market today.
We expect more sellers to enter the housing market in July and August as they begin to feel more comfortable with social distancing measures in place. As always should you have any questions regarding the current housing market, The Price Group is here to help you!
