Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic, and that’s certainly still true here at home. At GARDNER, REALTORS continues to report each week, there is still a real estate market here in the New Orleans, South Mississippi, and Greater Baton Rouge region. People are still buying and selling homes, and we are proud to be a part of these dreams still becoming realities (albeit virtually). Yes, we are in times of crisis, but as GARDNER, REALTORS President and CEO Glenn Gardner wrote, the 2020 Housing Market is nothing like it was during the 2008 crash.
If you’ve had a major life change recently, whether, with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).
You may have a new baby, a new employment situation, a parent who moved in with you, a recently-built home that’s finally ready to move into, or some other major part of your life that has changed in recent weeks. Buyers have those needs too, so you can be confident that someone is likely looking for a home just like yours.
According to a recent NAR Flash Survey: Economic Pulse, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents said in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home. Here’s the other thing – people are spending a lot of time on the Internet right now, given the stay-at-home orders implemented here in Louisiana and Mississippi. Buyers are actively looking at homes for sale online, and we have certainly seen that on GardnerRealtors.com. We are holding virtual tours, buyers are making offers, and homes are being sold each day right here at home.
There Is Less Competition Right Now
The same survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. But don’t worry, this can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon and there will be pent up demand, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months. If you need to sell right now, don’t wait for the competition to get back into the market again. This year, delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.
Your Local, Trusted Real Estate Advisor Can Help
At GARDNER, REALTORS, we are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans. We’re using virtual tours to show homes currently on the market, staying connected with the buyers and sellers through video chats, and leveraging resources to complete transactions electronically. We’re making sure the families we support remain safe and can keep their real estate needs on track, especially as life is changing so rapidly.
Homes are still being bought and sold right here at home in the midst of this pandemic. If you need to sell your house and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family.
Contact your local expert at GARDNER, REALTORS today!