Tue, 9 June 2020
What’s going to happen in real estate after the pandemic?
Here are the 5 factors that drive the housing market:
THE FUTURE OF REAL ESTATE
Right now, real estate is still moving. There’s massive pent up demand and low inventory. The industry has adapted to this new reality (virtual tours, OH). It’s a hot market for sellers. Low interest rates. Prices are still strong. As long as the federal reserve keeps printing money, it will be okay.
In the next 6 months, the housing market will move slow but prices will hold steady because the government stimulus will keep the stock market up. With the elections coming, the president will do everything to keep the economy moving along.
When forbearance ends, most homeowners won’t be able to make their mortgage payments, so they will sell. In 6 months, a lot of distressed sellers will come up. Buyers suddenly have more options, and prices will fall.
In 2021, home prices will drop, consumer confidence will stay low, and federal stimulus will become less effective,
If homeowners have been waiting for the right time to sell their house, it’s right now, before the big shift happens.
What should a realtor do?
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Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."
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Direct download: YesTalk-199_-_Real_Estate_Markey_Prediction_2020_Post-Coronavirus.mp3
Category:general -- posted at: 9:12am PST