Earlier this month, the National Association of Realtors conducted an extensive survey of their members to gauge changes in the market from both the buyers’ and a sellers’ perspective. The results of this survey show that many realtors are remaining optimistic in the face of the expected market slowdown.
While it is apparent that home sales will inevitably dip this spring as expected, experts are anticipating activity will reappear later in the year. NAR Chief Economist Lawerence Yun also believes that home prices will remain stable throughout the pandemic.
Even better news for investors, 51% of respondents reported that they plan to take their homes off the market for the next few months. If you have a vacant property you’re ready to part with, now may be the perfect opportunity to sell while there is less competition crowding the market.
On the other hand, if you’re looking to purchase your next investment property, the low inventory could be a challenge. It may be more important than ever to make full use of all of your resources to help you secure a good deal.
At New Western, our agents continue to work tirelessly to do the heavy lifting and match you with deals in your area that meet your investment criteria. We are continuing to acquire new off-market properties and are meeting with investors, either virtually or from a safe physical distance, to bring you more opportunities.