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We’re back again with more of the latest, most relevant news stories, data, and resources for real estate investors. Our goal is to keep you informed and up to date to empower you to make the best decisions for your business during this time of uncertainty.
We are seeing the first hint of the effect the COVID-19 pandemic could have on residential real estate in the Realtor.com Monthly Housing Trends Report. According to the report, “the year-over-year decline in inventory softened, the number of newly listed properties declined, and prices decelerated compared to earlier in the month.” The report also stated that listing prices in the major metros continued to grow, albeit more slowly than in February.
With home supply already low as we headed into March, the continued decrease in inventory may prove beneficial for real estate investors. Balancing the drop in sales with the drop in inventory, investors could see the same likelihood of selling. As completed flips come on the market as vacant properties in this limited-inventory environment, they arguably should receive greater market exposure.
“During a pandemic, it is more important than ever that housing and finance professionals understand the nature of our reactions to trauma and how to provide leadership to both grow your business and support your communities.”
In this recent HousingWire article, Kristin Messerli, founder of Cultural Outreach, offers tangible advice on how real estate professionals can respond with empathy and awareness of the psychological state of customers.
Earlier this week, Logan Mohatshami, senior loan manager at AMC Lending Group and HousingWire columnist, offered an in-depth look at the coronavirus, the housing market, and the signs he believes will indicate when the market is on the rebound. “The months of April and May are going to tell an epic story of America’s start in defeating this virus,” Mohatshami predicts. His deep dive is a must-read for every real estate investor.
While no one has a crystal ball, most experts agree that when we have successfully flattened the curve and put COVID-19 behind us, the bounce back in the economy will be significant. In an article for Fox Business, Rogers Healy, owner and CEO of Rogers Healy and Associates Real Estate and Healy Property Management, offered his take. “We are entering what is usually the busiest season of real estate, that usually lasts through the end of the summer. I am confident that the busy season will last through the fall, and possibly through the winter. Momentum is building, so there is no need to fear putting your home on the market.”
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.
