Housing market heating up during COVID-19 pandemic

Housing Market heating up during COVID-19 Pandemic

Florida — As Florida reopens, the housing market is heating up.

During the coronavirus quarantine people weren’t out buying homes, but that’s now starting to change.

“The best time to put your house on the market is always going to be when inventory is low and demand is high,” said Real Estate expert Lindsey Dellasala.

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Dellasala says right now interest rates for buyers are historically low.

Dellasala is trying to sell her St. Augustine home while she waits for her new home to be built.

“I wanted to come up with a list of things we’re going to do for our personal home when we sell it,” Dellasala said.

She suggests that all home sellers make improvements now.

“We just replaced all of the wooded decking outside that was rotting. I knew if we wanted to get a really great price for our home we had to make sure things like that was taken care of,” Dellasala mentioned.

In addition to that Dellasala says make sure you organize and paint your walls with neutral colors.

Dellasala also told Action News Jax that sellers can demand more for their home because there are fewer homes for sale and buyers can afford more because interest rates are low.

The national association of realtors suggested we could see a 10% percent reduction in home sales for 2020.

“Buyers are looking at beautiful homes and they are deciding to do we want to stay in our current home that we’ve been stuck in or do we want to move into a new house,” Dellasala said.

But despite these worries, real estate agents like Dellasala, are optimistic that the market will soon snap back.