Tai's Tips: State of the Real Estate Market in the Era of Covid

Since the era of COVID the real estate market has been turned on its head.

Many of my clients want to know if the real estate market is headed for another crash similar to what we saw in 2008. Buyers are also asking if the seller’s market will ever end. No one can predict the future but get ready for another shift.

In 2020 and 2021 most neighborhoods saw huge increases in prices, a lack of inventory and bidding wars. This left many buyers frustrated and caused some to want to pull back and wait it out.

Don’t fret, there are still deals to be had in this market. The tides are turning.

Look for properties that have been on the market for a week or more and also properties that went under contract and came back onto the market; that is likely where you will see the best deals and less competition.

Above all else if you are ready to buy or sell don’t hesitate. No one has a crystal ball to predict the future but rates will rise again and home inventory will once again become flooded. If you think you are ready, NOW is the time. You will never have an opportunity to see your equity increase in such a short amount of time again.