Market Update 4/13/2020- What is the Real Estate Market doing today?
Tax refunds are a great source for many first time home buyers and coupled with the $10,000 grant money available for you, now is the time to buy even with limited funds. The Inventory continues to come on and off the market with many buyers still in the hunt. This morning we see 600 active homes, dropping from 624 just a few days ago and increasing the total of Pending homes to 786 up 10 from yesterday.
Sellers who may be considering selling this year and making a move to a new home should be putting their homes onto the market while Buyers who want to buy this year are serious. You can’t beat the rates today. I was quoted 3.375 from Brad Seabaugh, 1st Security Bank who is working with one of our buyers and a past client doing a refi.
Home buyers you should be getting pre-approved and finding an aggressive buyer’s agent. If you need to sell to buy then getting your home’s market value in today’s market is something we can help you with. We have lists of buyers waiting on homes. That said our team of aggressive Home Buyer Specialist have been competing all week on the current inventory of active homes putting some of our buyers into contracts. Our Listing Specialist are assisting new sellers with staging and pricing options in order to get their houses sold. We are currently looking for homes in variety of pricing points.
The Covid-19 Pandemic will have some effect on 2020 but it is still unknown how long or how much impact we will see here in Tri-Cities. We are watching the market daily to guide you through these challenging times. Check back daily for your next report or give us a call to provide you a personal copy of our report.