What are Realtors seeing with regard to home prices?
The article below includes some interesting market statistics for real estate during the coronavirus pandemic.
In the Florida Keys, price adjustments appear to be at a normal rate for the market. There were homes that were priced too high before the pandemic that needed to be adjusted. However, there is no panic selling, at least on a macro basis.
In fact, we are seeing many home listings being either withdrawn or canceled, possibly reflecting owners' sentiment that the Florida Keys is a great place to be at this time. That said, it may be possible to locate a good purchasing opportunity where a specific owner may have a need to move forward.
The article begins with this:
According to a new survey from the National Association of Realtors®, nearly 3 in 4 Realtors currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic, according to the organization.
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