Market Update - April 2020 Covid 19
If you're a concerned home buyer or seller in NWI - this video is for you!
I go over what is happening in the market right now, in the second quarter of 2020. It's not as bad as we expected.
Houses are still selling, sometimes in record time! Houses that are in the lower price range ($250,000 and below) are moving very quickly, almost no change pre Coronavirus.
Homes in the higher price point ($250,000 and above) are still selling but are taking a little bit longer than normal.
Showings are down overall as most agents are doing some sort of "hands off" showing. Either virtual facetime showings or recording video walkthroughs.
The second half of this video is me giving my predictions of what will happen after we get passed this current pandemic.
A note - I am not a psychic! No one knows exactly what will happen.
All we can do is go off of facts and past history.
The facts are only one of the last four recessions caused a downturn in home values. That was the housing crisis! Why is this different?
The reality is this - from Valparaiso to Crown Point to St. John, there just isn't enough good quality homes for sale.
It's simple supply and demand - too many buyers and not enough sellers. I hope this helps calm some fears you may have about entering the market either as a buyer or as a seller.
As always if you have any questions don't hesitate to reach out to me!