Is the Real Estate dam ready to break? I sure hope so!

Dated: March 26 2021

Views: 269

March 25, 2021, by Wali Muhammad

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Now that Spring is officially here, many are speculating that the projected influx of housing inventory will relax the continuing rise in home prices. According to a recent article on HousingWire.com, February 2021 marked the 108th straight month of national price jumps, year over year. That is 9 years of continued price increases.

The Covid-19 Pandemic has been a boon and a bane to home buyers and sellers. On the one hand, if you are selling your home, you can capitalize on the extreme lack of inventory and getting top dollar.  Yet, on the exact opposite side of that transaction, you may not be able to find a home that matches your new needs/desires, or you will be confronted with a bidding war causing you too, to spend more than expected.

Ditch the frown for a smile!

This is not all doom and gloom. There is a solution to this issue…increase supply to meet the rising demand. Sounds simple, doesn’t it?  Well, it can be.

During the pandemic, Americans have been able to save more money than ever before. This pinned-up demand is waiting for the “world” to open back up. Since there are more relaxed Covid-19 restrictions, all signs pointing to a whopper of a year, not only for real estate but for the economy as well. As more and more communities, crack the seal on the lockdowns, including rising employment, freedom of movement should enable further freedom to spend well-earned savings.

There are plenty of people who want to sell their homes, who understand the battle brewing, and have decided to stay put. Our goal is to convince more people like them to sell their homes so that we can continue the lively exchange of commerce and homes. Right now, you live in a home that someone is looking for! Are ready to sell and find your new home?  

Free to move about the cabin…

Unlock your seatbelts, you are free to move about the cabin, but wear your mask! Even with the relaxed restrictions, there are still protocols in place that must be followed to ensure we all remain safe. As more homes get listed for sale, there will still be active Covid-19 rules of engagement. These are not thought to go away any time soon, yet they are easy to follow, as we have been doing it for a year already:

·         Wear a mask!

·         Only touch surfaces you must, if not let your realtor do it.

·         For added protection, wear gloves.

·         Sanitize on the way in, and on the way out!

Think of it this way…now that you have experience lockdown. Would you want to go back? Me either!

Blog author image

Wali Muhammad

I have been in Connecticut for over 30 years and have lived in Hartford, Middlesex, and New Haven Counties. I pride myself on knowing the market, having the drive to deliver results and the desire to ....

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