Real Estate Market Forecast – 2020 Update
Due to the coronavirus pandemic and these unprecedented times, it has become more complicated to determine a solid forecast of the housing market. However, Mark Spain Real Estate has curated the most up to date information on the market so you can stay in the know. One of our top priorities is keeping our clients well informed so you can make the best real estate decisions to meet your goals.
Want to learn more about real estate market trends, forecasts, and updates? Keep up with our blog here!
Housing Market Forecast and Update
Home prices have remained strong throughout the Coronavirus health crisis despite many areas of the country seeing a decrease in sales. According to the National Association of Realtors®, the average home price in March 2020 was at $280,600. This is an 8% increase from March 2019 with an average price of $259,700!
The shutdown of non-essential businesses put a strain on many markets. The recent push for virtual home tours has allowed many real estate companies including Mark Spain Real Estate to continue serving our clients in meeting their goals.
Although many markets have not recovered, our communities have continued to provide great opportunities for our clients. For Mark Spain Real Estate, we saw record high performances for March, April, and May despite the effects of the Coronavirus! We appreciate our team’s hard work and diligence through these times to deliver our clients an unparalleled level of customer experience.
The market is unpredictable and always changing. One thing is for sure, there will always be people searching for a new home in any market. Buyers continue to look for their dream home, and sellers remain ready to move on to a new chapter in their life. If you are looking to buy or sell, it is still possible with extra precautions and new opportunities!
Click here for more real estate news. At Mark Spain Real Estate, we continue to see growth and activity even during these unprecedented times. Our team is committed to delivering our clients the best experience. Rest assured you will be in good hands to buy or sell a home confidently with us! Give us a call or click here to learn more about us.