Will the real estate market rebound in the summer?
by Jacques Ambron
May 06, 2020 | 3380 views | 0 0 comments | 358 358 recommendations | email to a friend | print
Jacques Ambron is executive director of sales for Brown Harris Stevens Forest Hills, LLC.
Jacques Ambron is executive director of sales for Brown Harris Stevens Forest Hills, LLC.
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Q. With all the uncertainty surrounding COVID-19, do you think there will be a real estate market this summer? Should I postpone my move until next year?

A. I am receiving a lot of inquiries from buyers and sellers who are asking pretty much the same question. While it is difficult to know exactly how long it will take for things to get back to “normal,” I do believe there will be a return to work in the coming weeks.

Whenever that occurs, most experts are predicting that there will be a fairly active housing market, although there may be a slow roll-out.

The answer for you also involves your specific situation. How critical is the planned move? If you are a buyer, now would be a good time to get pre-approved for a mortgage, and you can still look at properties online.

In fact, many listings now offer virtual tours. Don’t forget that interest rates are still very low, so I believe it’s a great buying opportunity. Contact a real estate broker so that you can let them know how to reach you when the time is right.

If you are selling and very ready, then make sure you have some place to go in order to accommodate the buyers who may likely want a fast transaction due to a shorter period before schools reopen in the fall. As I have mentioned previously, you can take this time to prepare your home for sale.

Please send your real estate-related questions to jambron@halstead.com.

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