Housing Market 2020: Will it Crash?

Many people right about now are worried about the same thing: will my house sell? This is a troubling thought to battle, especially during an ongoing pandemic with uncertainty in our near future. In a recent survey from Qualtrics, 87% of people say they are worried their home won’t sell in this current housing market climate. We can understand how people might think this; however, based on analytics and internally through working in real estate, we have seen quite the opposite.

According to the National Association of Realtors, 340,000 single family homes have sold in the United States – just in the last month! The appointments to see homes (both virtual home tours and in-person open houses) have increased, as well. In addition, the existing home sales in the current housing market climate is up 20.7%! With these facts, it is obvious to see that the housing market is pretty up right now, and people are eager to still search for homes, and sell.

On top of all of this, bidding wars have reached an all time high. If you think you’re going to be getting some type of deal on a future house, you might want to think again. According to the National Association of Realtors, “there were about 3 offers on a home back in May.” This has forced buyers to put up a higher offer in order to receive the home they want.

The bottom line is, don’t worry about your home not selling, because it will. Buyers are active and you will get the amount you’re asking for, if not more. If you are interested in selling your home or looking to buy, reach out to Stephen White today and we will get you in a home as quickly and safely as possible!

Categories: Buyers.