Spring & Summer are usually the most exciting time of the year for us at Raleigh Cary Realty. They are typically the busiest season, with so many homes for sale and so many people looking to buy. Unfortunately, with the COVID-19 pandemic and current stay-at-home orders, it has put a damper on the amount of homes hitting the market. The inventory is low but people are buying. We have good news as we look ahead at what the real estate market in Raleigh & the Triangle will be like after the pandemic, and we’re excited!
Here’s what we can look forward to in the real estate market after Coronavirus:
- Eager sellers and buyers: Many are on hold, but many people still need to move. From what we’re seeing, most people who were planning on buying or selling homes in the spring are simply shifting their timelines out a few months.
- More options: Not only do we expect to see many options on the market, but we now have more possibilities available for how we can show homes. One silver lining to coronavirus is that it’s making us look at new, creative ways to show homes. Open houses through Facebook Live, teleconferencing showings, and other opportunities are popping up in the industry and it’s only going to give agents more choices to help buyers and sellers.
- Uncertainty: Unfortunately, we don’t know exactly what the future will bring. Will the market come back a little slower or will being cooped up at home make people realize that their home needs have changed? The good news is that the Raleigh area has been and continues to be a very attractive place to live, which will always help the real estate market.
- Low Rates: The rates are at historic lows with many of us living with monthly budgets. This greatly increases many buyers buying power.
Our advice is to keep moving forward. Maybe there’s a change in strategy or timeline, but keep preparing financially as best as possible and monitoring the market. We’re happy to start working with you to help develop the best home buying or selling strategy for you. Contact us to set up a consultation.