Updated: Sep 23
Here are a few things we might expect in real estate if COVID spikes again.
What happens to our market if COVID comes back? As we’re heading into fall and winter, there’s a lot of conversation about the delta variant coming back. We don’t know for sure yet how that would affect real estate, but we can make a few predictions since we’ve been in a lockdown situation before.
We can be sure that things like masks, gloves, and booties would come back. All of these are good practices when you’re entering a home and someone there might be sick. On the selling side, it’s never a bad idea to have masks, hand sanitizer, and gloves available for the buyers.
If COVID spikes again, it’s unlikely that interest rates will increase. That might mean it’ll still be very affordable to buy a property from the interest rate standpoint. However, fewer people might look to sell their property because they might worry about being exposed.
It’s never a bad idea to have masks, hand sanitizer, and gloves available for buyers.
We’re already entering a season where our home inventory tends to drop anyway. Does this mean with COVID, it’ll cause more of a decrease, or will it not make much of an impact? We don’t know for sure, but we’ll keep you updated as soon as we do.
For now, it’s still a fantastic time to both buy and sell. There is a little less competition among buyers because there is more inventory now, and we’re not expecting this to swing too much.
If you have questions about this topic, want to know the value of your property, or have any other real estate questions, give us a call. We’d be happy to help you.