With May and its warmer temperatures, sunshine, and spring flowers at our doorsteps, I naturally lean toward a hopeful outlook despite the toll COVID-19 has taken on us. This is not to suggest I see the future through rose-colored glasses; but rather that I hope to meet challenges ahead with courage, creativity, and practical, productive solutions that help get us and our economy up and running again.
“Start by doing what’s necessary, then do what’s possible,
and suddenly you’re doing the impossible.”
— Francis of Assisi
IT’S POSSIBLE TO ACHIEVE GOALS AND STAY SAFE
Although health and safety will continue being our greatest priority, physical distancing and safe hygiene need not prevent us from making progress with education, certain businesses, and our personal and professional growth.
BUYERS WANT TO PURCHASE HOMES THIS SPRING
Real estate, like many other businesses, has suffered the effects of overall low consumer confidence in the weeks since COVID-19 changed our world and habits. Job losses and furloughs, income cuts, and fear of the unknown have made consumers shy about risks in general.
But despite a dip in overall consumer confidence, data suggest consumers are still confident about and interested in investing in real estate. In addition, the appeal of low mortgage rates, reasonable housing prices, and new buyers who have entered the spring 2020 market have increased the demand for real estate. The challenge? Low inventory.
LOW INVENTORY BENEFITS HOME SELLERS
Many sellers understandably removed their listings with the shelter-at-home mandate. As a result, housing inventory is now at a 10-year low. The good news is that sellers who want or need to sell a home now will have less competition compared with the typically busy spring market. Furthermore, the recent lull in real estate is not an indication of what’s to come. Sellers now have a great opportunity to list and sell their homes for favorable prices.
Over the last thirty days in Chatham, for example, 22 homes came on the market, twelve of which have already gone under contract. These statistics are remarkable even in an active (COVID-free) market. They also support the value of real estate in a town with outstanding schools, safe neighborhoods, beautiful homes, midtown direct train service to Manhattan, and open spaces that allow residents to stay safe.
HOME SELLERS BENEFIT FROM GUIDANCE WITH A SEASONED REALTOR
Now more than ever, sellers need an experienced real estate agent who has thrived in challenging markets. Ahead of the curve, Weichert Realtors switched to a virtual platform more than a year ago. With digital adaptations, dedication to the safety of our clients and employees, and expertise in navigating complex real estate markets, we are well-positioned to help sellers and buyers achieve their goals.
IT’S NOT TOO SOON TO BEGIN OUR RECOVERY
Without question, the COVID quarantine has been daunting. Like many of you, I’ve turned to thought, compassion, prayer, my family, friends, exercise, moments of levity, and work for comfort. Sometimes this approach helps. Sometimes it doesn’t. But I keep at it, with the faith that each new day brings us closer to solutions for continuing our lives as productively as possible.
As we make our way out of the COVID-19 tunnel, we can help restore confidence in ourselves and everyone around us with creative solutions and practical applications for success while embracing our new normal.