A Post-COVID Real Estate Market

At long last, states are reopening and people can tentatively return to normal life. Though the real estate market came to a virtual standstill during the pandemic, an encouraging trend has begun to appear. As people exit their self-quarantines, many are emerging into the post-COVID real estate market as prospective home-buyers. 

Understandably, people have been getting pretty sick of their homes. After many being stuck inside more than ever for a year, those residing in apartments or other condensed living spaces are ready for a change of scenery. Forbes points to this mindset as the hope for the housing market’s recovery. They predict an increased demand but note that the supply may remain stagnant.

Although this discrepancy could lead to increased prices, the shortage may not last for long. The Herald Bulletin reminded readers that many used the downtime offered by the pandemic to perform home-improvement projects. Companies like ours equipped consumers with the supplies they needed to complete high-quality DIYs. These renovations can greatly increase the value of a home. The Herald predicts that the coming months will see a flood of tidied-up homes entering the market. 

Of course, it will still be a while before we can expect a complete return to normalcy. Many of the adaptations made by industry professionals could easily carry into the future. For example, real estate agents have become experts at virtual tours — a showcasing option that could save time and money even in post-COVID real estate when social distancing is no longer necessary. 

Buyers have also changed their standards for what a home should include. After many jobs became remote, workers got accustomed to performing their duties from the dining room, couch, or bedroom. Moving forward, some shoppers may prefer a home with designated office spaces. As home builders start new projects to meet the increasing demand, it’s crucial that they note these trends and cater to consumers’ expectations. 

Though the coming months still hold a lot of uncertainty, CDA Wood is prepared to meet your project needs.