The Real Estate Market

We know, it’s confusing. People are hearing on the news that the economy and the stock market are volatile right now with the pandemic and are worried about the local real estate market, the equity in their home and if now is a good time to buy a new home. We are here to be your guide and give you the information you need!

The Stock Market

Over the past few months, with the worldwide pandemic and it being an presidential election year, the stock market has been very volatile – up one moment and down the next.

Some companies have weathered the storm so far, while others have not fared so well. Brick and mortar businesses have had an especially hard time with the widespread shut downs in most states. Losing their ability to be open or only open at half capacity has severely hampered their business!

By contrast, lots of web based companies are living large with the move of so much of the workforce to working from home and people shopping from home. Some are posting banner months and quarters.

So, what about the real estate market? 

The Local Real Estate Market

As we said, the stock market is NOT the real estate market. Locally, we had a fast slow down in March and then picked right back up!

Real estate is an industry with local idiosyncrasies. Local supply and demand determine what type of market your area is in. In fact, supply and demand are the simple economics of real estate.

In central Indiana, we have a SUPER short supply of available existing homes on the market – less than a months worth if no more homes came on the market. WOW!

AND… mortgage interest rates are at record low levels since tracking has been in place! This, in addition to people re-evaluating their home space since COVID-19 came about, is creating a HUGE demand from buyers who are looking at getting more home for less money.

So What Does This All Mean?

Statistically, there may never have been a better time to sell and then buy! Equity is at an all time high with low inventory driving housing prices up steadily. Great news for sellers.

And, buyers can enjoy interest rates never before seen, giving them more buying power!

It’s a win-win situation all the way around!

This market is so unique that you should have a trusted guide. Homes are being snatched up quicker than quick and having an agent and team on your side who knows how to win in multiple offers situations and how to advise you on both the listing and buying side has never been more important!

We have clients who have come to us after having missed out a number of homes with other agents because those agents aren’t as savvy about this particular market.

Buyer or seller, The Real Estate Pros team can guide you on this journey! Ready to get started? Let’s go!