Traditionally the Super Bowl marks the start of the spring market for agents across the country, but this year, pandemic and all, we are considered one of the hottest markets in the country with near-record price increases long before the big game came and went.
We are seeing the light at end of the tunnel with Covid and hundreds of thousands of vaccines are here and on the way. Although the economy in most parts of the US are still clawing their way out, our economy and housing is surging. People are not just leaving the states of California and New York, but also Michigan, Illinois and Ohio. Just look at the license plates every day on the roads next to you.
It is a seller’s market as inventory is extremely low with a 44 percent decrease in homes listed from this same time last year in Dallas County. Last year at this time we had a 3.3-month supply compared to the 1.8-month supply currently. If you are thinking of selling, now is the time and please give me a call.
The pandemic has also brought about changes in our real estate future which are here to stay. Working from home is here to stay. According to Global Workplace Analytics, they found that 80 percent of those polled would like to work from home three or more days a week. This means the home office is more important than ever. And this will/has caused a major shift in where people live. You no longer need to live near your job.
The multi-generational household has builders rethinking secondary first floor living quarters. We are going to see a lot of new Accessory Dwelling Units (ADU’s), which are adjacent or attached living quarters meant to accommodate other family members. I will be doing an article on these this week in my blog at https://www.christycompass.com/journal as these getting so creative and going to be a definite trend.
We are so lucky to live in Texas!