How is Covid-19 Affecting the Real Estate Market?
As you can imagine I’ve had these questions posed to me quite a bit recently from my local real estate clients.
“How is the Coronavirus going to affect the sale of my home?”
“How is Covid-19 affecting buyers, are they still looking?”
Here is my take on things and what is going on right now in front us.
Real estate transactions are still taking place, people need to buy homes or sell homes regardless of what is happening around us. Our open house last weekend was busy, and clients are still planning on listing their home in the coming weeks. Buyers are also extremely active both online and in-person, we really haven’t seen a slowdown.
Interest rates are extremely low right now which gives more buying power to home buyers and they are taking advantage of it. We are seeing record levels of online activity as well as multiple offers on homes. This combined with historically low inventory of homes is driving the market right now. Record number of buyers + low home inventory = a frenzy market at certain price points and areas in Fairwood, Renton, Maple Valley, Kent, and all-over South King County.
If you are thinking of selling, I would love to have a conversation with you. Now is a great time to have me give you a free one to one home valuation and come up with a game plan. We are also scheduling private showings with anti-viral protocols to make sure everyone is healthy and safe.
Contact me directly with any questions!
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