According to Danielle Hale, the chief economist for Realtor.com, now is the time to sell. While sellers have remained cautious because of the COVID-19 pandemic and the social uncertainty it has brought on, home sales have remained strong.
To determine the effect of the pandemic on home sales, Realtor.com measured February’s sales and created the Housing Recovery Index. By assigning February a value of 100, they were then able to compare sales during the pandemic to see whether they were up or down.
In Tampa, home sales were actually up in March. By June, they had dropped by about 10%. However, the region’s sales remain higher on average than the rest of the country. The strength of the Tampa market remains in line with previous news about home sales. You can read more about the index here.
Hale noted that home sale prices are in line with pre-COVID prices and that listings are moving more quickly. Not only that, but there has also been a surge in demand. Buyers are looking for homes but are being stymied by a lack of listings. Homeowners who are prepared to sell right now may find that their homes sell more quickly than they expected while fetching a fair price. Are you thinking of selling? Let’s talk!