Market Pulse 04/24
If you are in the real estate market recently you will understand this. This is directly from the agents working in the market. Buyers who were so enthusiastically in the market got pushed back with the CORONA and SIP and while real estate is deemed essential, buying home or selling one is not really the top priority for people, and for anyone. Staying safe is, for themselves and for others.
Working with buyers and sellers I have been looking at this market closely and my day’s focus has shifted from actively showing home and writing offers to studying the market and the indicators so I can help add some perspective to this.
With SIP declared first thing I noticed was uncomfortable buyers. Buyers wanting to know what this means, buyers fearful of market tumbling down and wanting to see if they should get out of the escrow and the market, after all they surely did not sign up for this! I was seeing this all around me.
With March 4rd just 2 weeks away and talks of gradually lifting the SIP, and mainly out of acceptance of the current situation and new normal, market is showing some encouraging signs. Fed has taken steps early on to ward out worst. But is that enough? The impact of this on small businesses and unemployment and on general consumer confidence would dictate what would be coming..
But for now I am working on being hopeful and prepared for what is to come!.
