The pandemic brings a new take to real estate
BRIDGEPORT, W.Va (WDTV) - COVID-19 has changed the way we buy and sell homes, but even after a year into the pandemic, it hasn’t put a restraint on the real estate market in our area, only on the homes that are available.
Denise Everson, a realtor for EXP Realty in Bridgeport said, the housing market was only on pause for a few months when the pandemic first hit.
“Whenever things first shut down people were just putting a halt on everything,” Everson said. “Buyers didn’t want to go in strangers homes and homeowners didn’t want strangers in their homes,” she said
That’s when everything changed.
“Everything picked up and it hasn’t slowed down,” Everson said.
Most realtors had the decrease in mortgages to thank, but buyers were also seeking more than extra money in their pockets.
“They’re looking for bigger homes that offer them a designated home office because either one or both of the adults are now working from home,” Everson said.
Unfortunately, with more wants from buyers, comes less to offer.
“We have an abundance of prequalified buyers, but the inventory is low,” she said.
This is especially true for buyers looking for lower-priced homes. A report from Redfin stated that the national median home price rose 14 percent, meaning most homes were found at over $300,000.
This made the search for a new home more challenging both financially and having an adequate selection to choose from.
“We need more houses,” Everson said.
The National Association of Realtors last reported that nationally the number of homes for sale dropped over 18 percent.
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