Every day that passes, people have a need to buy and sell homes.
That doesn’t stop during the current pandemic.
If you’ve had a major
life change recently, whether with your job or your family situation,
you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on
your side, making a move is still possible. Rest assured, with
technology at your side and fewer sellers on the market in most areas,
you can list your house and make it happen safely and effectively,
especially when following the current COVID-19 guidelines set forth by
the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).
You may have a new baby, a new employment situation, a parent who
moved in with you, you just built a home that’s finally ready to move
into, or some other major part of your life that has changed in recent
weeks. Buyers have those needs too, so rest assured that someone is
likely looking for a home just like yours.
According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that
there’s a noticeable decline in current homebuyer interest. That said,
10% of agents said in the same survey that they saw no change or even an
increase in buyer activity. So, while buyer interest is low compared to
normal spring markets, there are still buyers in the market. Don’t
forget, you only need one buyer –
the right one for your home.
Here’s the other thing – people are spending a lot of time on the
Internet right now, given the stay-at-home orders implemented across the
country. Buyers are actively looking at homes for sale online. Some of
them are reaching out to real estate professionals for virtual tours and
getting ready to make offers too. Homes are being sold in many markets.
There Is Less Competition Right Now
The same survey indicates that 56% of NAR members said sellers are
removing their homes from the market right now. This can definitely work
in your favor.
If other sellers are removing their listings, your home has a better
chance of rising to the top of a buyer’s search list and being seen.
Keep in mind, listings will pick up again soon, as 57% of the
respondents note that sellers are only planning to delay the process by a
couple of months. If you need to sell right now, don’t wait for the
competition to get back into the market again.
This year, delayed listings from the typically busy spring season
will push into the summer months, so more competition will be coming to
the market as the pandemic passes. Getting ahead of that wave now might
be your biggest opportunity.
Your Trusted Real Estate Advisor Can Help
Real estate agents are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans.
We’re using virtual tours to show homes currently on the market, staying
connected with the buyers and sellers through video chats, and
leveraging resources to complete transactions electronically. We’re
making sure the families we support remain safe and can keep their real
estate needs on track, especially as life is changing so rapidly.
Bottom Line
Homes are still being bought and sold in the midst of this pandemic.
If you need to sell your house and would like to know the current status
in our local market, let’s work together to create a safe and effective
plan that works for you and your family.