A few months ago, housing market experts were unsure how the real estate would rebound during the pandemic.but now, Alicia Nieves shows us they are not only surprised by the strong bounce back, but also by a new trend.
A FEW MONTHS AGO, HOUSING MARKETEXPERTS WERE UNSURE HOW THE REALESTATEWOULD REBOUND DURING THEPANDEMIC.BUT NOW, ALICIA NIEVES SHOWS USTHEY ARE NOT ONLY SURPRISED BYTHE STRONG BOUNCEBACK, BUT ALSO BY A NEW TREND.THE HOUSING MARKET HAULTED.AT THE START OF THE CORONAVIRUSPANDEMIC IN THE U.S.BUT NOW..."HOUSING ECONOMIST HAVE BEENOPTIMISTICALLY SURPRISED BY THERETURN OFBUYERS TO THE MARKET."ECONOMISTS LIKE SKYLAR OLSENWITH ZILLOW, SAY THIS SECTOR OFTHE ECONOMY ISSEEING THE STRONGEST RECOVERY."A LOT OF MULTIPLE OFFERS, A LOTOF PROPERTIES THAT ARE COMING ONTHE MARKETAND HAVING SHOWINGS WITHIN ACOUPLE OF DAYS AND A LOT OFMULTIPLE OFFERSITUATIONS."OVER THE LAST FEW WEEKS NEW YORKCITY AREA REALTOR MICHELLEPFFEFFER HAS NOTICED NOT ONLY ASTRONG MARKET BUT A NEW TREND...THE MOST COMPETITIVE SALES AREWITH HOMES LIKE THIS ONE... INTHE SUBURBS."WE ARE DEFINITELY SEEING MOREPEOPLE MOVING OUT OF THE"WE ARE GETTING PEOPLE WHO HAVEBEEN INQUARANTINE FOR A COUPLE OFMONTHS NOW IN SMALL QUARTERS ANDMAYBE HAVEDECIDED THAT IT IS MORE OF APRIORITY TO HAVE A YARD ANDSPACE."LINGERING UNCERTAINTY AROUND THEPANDEMIC, AND A POSSIBLE SECONDROUND OFCLOSURES AND SELF-QUARANTINES...HAVE MOTIVATED MANY OF THESEMOVES."I THINK THAT THAT IS A BIG PARTOF IT, BUT ALSO BECAUSE WE HAVEHAD A BIGTECHNOLOGICAL SHIFT.
COMPANIESTHAT WEREN'T OFFERING REMOTEWORK OPTIONS PREVIOUSLY WERESORT OF FORCED INTO IT AND FOUNDTHAT IT WAS EFFECTIVE.
WHICHMEANS THAT THEY DON'T HAVE TO BEIN THE OFFICE EVERY DAY AND ITGIVES THEM THE OPPORTUNITY TOLIVE IN FURTHER DISTANCES."NEW YORK CITY IS SO FAR ONE OFTHREE CITIES, SEEING THE TRENDOF A SUBSTANTIALLYHIGHER NUMBER OF PEOPLE MOVINGOUT OF THE CITY AND TO THESUBURBS...ACCORDING TO RESEARCH BY ZILLOW.THE COMPANY IS MONITORING SALESAND HOME SEARCHES TO SEE IF THISIS A TRENDTHAT WILL SPREAD TO OTHER MAJORCITIES, OR NOT."THIS EXPERIENCE CAN BRING A LOTOF CHANGES TO HOUSINGBUT IT IS A LITTLE BIT TOO EARLYTO SEE HOW WE'LL ACTUATE THATOUT AND YOU CAN IMAGINE A LOT OFDIFFERENT WAYS THAT CAN PLAYOUT."I'M ALICIA NIEVES REPORTING
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