The Nature of the Real Estate Market amid the Coronavirus Pandemic

Back in March when COVID-19 was unleashed on the United States and most parts of the world, everyone was sure the economic expansion evident in the United States was due to end as shutdowns and quarantines ensued. Yet, for the real estate market, the unpredictable happened. Contrary to popular belief, the disaster that was Coronavirus led to lower interest rates, which combined with low inventory, made for a real estate market stronger than anything since the economic expansion of the mid to late 2000s. According to an article on “the Joint center for Housing Studies of Harvard University, record low home inventories in tandem with historically low mortgage interest rates will most likely ensure home prices continue to rise.” Continued appreciation of home values amid these unprecedented times will seemingly continue the strong seller’s market evident today. When the market is geared toward sellers it benefits all sellers, even those with homes not market ready. As investors continue to refurbish homes that have seen better days to keep up with supply, it has become apparent that investors will oftentimes pay prices in line with market value. To avoid the headache of hiring a realtor and going through a due diligence period where buyers have the right to walk, and often do if all their demands aren’t met, sellers of less than perfect homes are reaching out to investors to sell their homes for a fair price with no strings attached. At Helpful Homes we strive to do what our name suggests and help those sell their homes in such unprecedented times for cash with no strings attached.

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