Real Estate Market sales spike during the pandemic
- Keaundria Milloy
- Jul 20, 2020
- 1 min read
Updated: Jul 21, 2020
Broker, Terry Winstead for Winstead Realty Incorporated has experienced a tremendous jump in sales since May, right in the middle of the ongoing pandemic. He tells Twin States their sales from June have increased 38% from last year in the country and up 12% in the city in the Meridian area.
“The thing that I’m finding very interesting is how much activity we’re having right now," says Winstead. "There are a lot of properties selling. I can’t remember seeing this hot of a market or at least it’s been a very long time.”
With the spike in sales during the pandemic, people are advised to take extra precautions when viewing a residency. Realtors ask buyers to continue to sanitize their hands thoroughly and also wear a mask when viewing a potential home.
“It’s up to the buyer clients and the seller clients, usually we’re going to be wearing masks. I think that may have some impact on the market because I think inventory is down. Some people are not putting their house on the market because of the exposure they may get.”
If buyers are not comfortable physically viewing a residency, they have the choice to look at pictures and videos online.
“They can view online. Most of the properties have pictures and so forth. It’s up to the people themselves. I try to encourage people not to do a lot of touching cabinets and doors. Sellers-if they’re occupying the house know when we’re coming and when we’re leaving.”
Winstead Realty, Inc. saw a decline in sales in January through April, but they started to rise again in May.
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Who would've thought that during a pandemic, the real estate market would surge the way it did? It just goes to show the unpredictable nature of our times. For those on the fence about it, perhaps now is the opportune moment to sell your house.