Working In Real Estate In A Post-Pandemic World

In March of 2020, everything changed. The Covid-19 pandemic affected every aspect of our lives and the way we view the world around us. We were cut off from each other and our day to day lives looked totally different.

The real estate market was no exception. The pandemic caused both short and long term effects in the housing market that will impact generations to come. 

What Happened To The Real Estate Market During The Covid Pandemic?

When everything shut down in March of 2020, businesses temporarily closed and everyone was working from home. The real estate market basically stopped and then picked right back up again that summer when restrictions were lifted.

Many people transitioned into work-from-home life and were able to live anywhere they wanted so they took advantage of their newfound freedom. Small, less-populated cities became more attractive compared to the hustle and bustle of big cities. As everyone was longing to move, the housing market was more popular than ever. Unfortunately, there was a lack of homes for sale causing the demand and prices to rise.

Along with higher demand and prices, mortgage interest rates were at an all time low making a new home even more appealing. Fast forward to December of 2021 and we are still seeing low interest rates, competitive pricing, and very few homes on the market.

What Does This Mean For The Current Market?

Some experts speculate that the housing market will slow down in 2022 while others think it will stay about the same. Covid-19 will continue to have a big influence on the trajectory of the current market.

As vaccination rates continue to rise, especially in children, hopefully we will see Covid case numbers decrease and a new normal return. With this new normal and refreshed sense of safety, families will be looking to move back to the big cities. This could mean another population shift and more demographic changes in the real estate market. We predict real estate agents will be kept on their toes this upcoming new year.

How Did The Pandemic Change The Way We View Real Estate?

If you are already a real estate agent, we’re sure the pandemic has changed the way you operate your business. You may have done your first house showing over Zoom or had to wear masks and sit six feet apart at closing. It was definitely an interesting time for the real estate market.

How did this change the way we view real estate today? We know what is possible but we also have learned to not take face-to-face communication for granted. Real estate is a people business and that’s why we love it.

Maybe you’re considering becoming a real estate agent and you want to learn more about what the pandemic taught us about the real estate world. We would love to talk to you more! Our real estate expert educators have experience in the real estate field pre- and post-pandemic. We have truly seen it all. Please give us a call at (574) 551-0316 or visit our contact page to talk to one of our team members.