COVID-19 has already made it’s mark on the housing industry. Rates are at an all time low, causing buyers to purchase up real estate in mass.
Real Estate agent Joanna Tarnawa talked about how and why the markets were so great for purchasing and selling a home right now.
“There’s a lot of eager, eager buyers because of the historically low rates, because of the fact that they need more space. And then you have got sellers who are getting great prices for their houses because they are able to ask for a premium,” Tarnawa explained.
These low interest rates are due to an initial dip in the housing market as an initial reaction to the pandemic. After rates went down, the country saw a spike in builders breaking ground as well as home owners listing their property.
Builders like D.R Horton have seen an increase in developments as more people take advantage of the lower interest rates and buy their homes.
New home owner Jessie Dickerson spoke about how thrilled she was to purchase her first home.
“The housing market, the interest rates are phenomenal. I think we got a 2.5% interest rate.”
The optimistic nature of the housing market has been a significant silver lining during this pandemic.
