Right now, we are currently living in times where there are many uncertainties and life is different from our normal. The COVID-19 has caused many to pause what they were currently doing and re-evavlueate. For some people, the re-evaluation may be whether or not they should sell their home. Looking at the current real estate stats may help in making a decision on if you should list now or wait.
What is happening in the Polk County real estate market right now?
The above stats indicate that in the month of March when homes sales in Polk County typically trend up, we experienced a slight decline. The red line is for Contracts Pended. The dark green bar indicates homes that sold, which is more of a lagging indicator as to the present movement of the housing.
https://themreport.com/daily-dose/04-09-2020/survey-says-59-of-buyers-are-delaying-home-purchases
The linked article addresses a survey of real estate professionals and the experiences they are having in the marketplace while dealing with the Coronavirus. Indicating (as you would expect) that business is down. Locally, we’re also seeing the negative impact of the viruses. We’re now finding it important to look beyond the prequalification letter turned in with offers, to gain insights into their employment, to get some indication if their employment is likely to remain long enough to close on the property. However, as to the number of buyers looking to purchase homes; we’re still experiencing a high demand for affordable housing. For example, we received four strong offers in two days for a home priced at $149,900.00.
In conclusion, as far as we can tell, regardless of the state of the economy, the affordable housing market remains.
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