DFW Real Estate and the Effects of COVID-19
by Brandon Stewart
on Wednesday, April 8th, 2020 at 2:29pm.
What a different world we live in today. Who would have thought most of us would be working from home, wearing masks in public, and hoarding toilet paper and disinfectants? Welcome to 2020 and our new reality.
So what does all of this virus stuff mean for DFW real estate? I'm seeing less showings on listings, but believe it or not people are still buying homes. Agents have gotten creative to try an minimize exposure for buyers and sellers. We're using facetime, zoom, videos, and 3d virtual tours.
Yes sales have slowed, but I'm hopeful it's more of a temporary slowdown than a long term shift. According to this article - D-FW’s Home Market Ranked Among Least at Risk From COVID-19 by the Dallas Morning News, Dallas and Fort Worth markets are least likely to see a major housing market shakeout from the pandemic. "Housing markets that will be most negatively affected by the COVID-19 infections and resulting economic recession are mostly in the Northeast and Florida, according to a new report by analysts at Attom Data Solutions."
Unlike 2008, we don't really have a real estate problem. People need to buy and sell houses. Most experts are predicting that when the pandemic is under control the housing market will take off with a roar unlike any we've seen in the last couple of years. Interest rates at all time lows, more reasonable sellers, and pent up demand will likely fuel this fire.
I for one am ready to drop this isolation game and get back to business! I hope I see you out there!
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