Travis Patrick White Newport Beach Realtor has been asking the same question as buyers and sellers everywhere. What will the real estate market look like coming out of the pandemic? So far, the coronavirus outbreak has remained difficult to predict. Likewise, real estate trends, while mainly strong, have spiked and dropped erratically. Travis Patrick White, a Newport Beach Realtor, cites a HomeLight Flash Poll that queried real estate professionals from across the country. The report is sent every two weeks and changes in attitude are common and probably related to the spread of COVID-19 in various areas of the country.
In recent weeks, 80% of agents reported that home buying was up. Travis Patrick White Newport Beach Realtor viewed this trend with optimism. However, that same week, 60% of agents feared that low inventories would make it a challenge to meet demands at 2020 draws to a close. On a positive note, just 20% of agents said coronavirus was becoming more of a concern as the year wears on.
Travis Patrick White Newport Beach Realtor Remains Optimistic After the Future of Real Estate
Travis Patrick White Newport Beach Realtor believes that the market is out of whack but will eventually hit its equilibrium. He feels that the best thing buyers and sellers can do is to continue looking for or listing homes at fair prices. Travis Patrick White Newport Beach Realtor encourages real estate professionals to hang in there and continue to market their business. Industry leaders remain optimistic and so should the people working with clients every day.
Travis Patrick White Newport Beach Realtor
According to Forbes, people are moving away from cities to avoid the coronavirus. However, this trend predates COVID-19. Beginning with federal tax reforms in 2017 that reduce local and state tax write-offs, some families could no longer afford to stay in expensive cities. Around the same time, homelessness rose and so did urban crime rates. This made moving to the suburbs even more appealing to buyers. Travis Patrick White Newport Beach Realtor reminds professionals to farm the suburbs a little harder if the marketing isn’t opening up in more populated areas.
With rates at historic lows and inventories down, Travis Patrick White, a Newport Beach Realtor, remains optimistic about the future of real estate post-COVID-19.
Travis Patrick White Newport Beach Realtor is an active real estate professional in the Newport Beach, CA, area.