Real Estate Impact of Covid-19 on the Housing Market
If you are becoming a real estate agent near Lexington, KY, you have come to the right place, because HomeServices Real Estate Academy is the best place to learn how to become an agent, from start to finish. Our instructors and teachers are experienced professionals in the field, and they are here for you every step of the way. One thing all of our agents should be aware of is the impact of Covid-19 on the real estate market where we live. This is essential because one of our major priorities as an agent is knowing the market around us. So, let’s go over how the pandemic has affected this specific market.
Safe Community
One thing that even Covid-19 can’t take away is the fact that we live in a very safe community with great schools. These are some of the main driving factors when it comes to the value of the area. Because it is such a highly sought-after market, the real estate industry is doing very well here. Many people are relocating during this time, and it has created a boom in the central/eastern Kentucky real estate market. The more people that come here mean the value in housing increases and that the local economy continues to grow.
Suitable Place To Life
This specific area has also performed well even post-Covid because of all the growth in industry in the surrounding area. Many people are moving here without even knowing anybody else. Whether they have family who already lives here or not, it does not seem to affect the desire to move here. People are buying in all types of ways, from 4K video tours to agents Face Timing the house, this market has seen it all, and it is not about to slow down any time soon.
Downsides
The downside to all of this surge is the fact that not as many people can afford houses because the values are continuing to increase, and there isn’t any sign that they are slowing down. The median price has risen, and this means that sales dollars have also risen, but it also means that the inventory has continued to decrease. Also, with the goings-on in Russia, some financial markets are in sudden turmoil. Many different aspects of the pandemic and current events have influenced our community, but the housing market has been a good one for our economy. However, overall, these changes are positives for a real estate market, so it is definitely a great time to become an agent if you have always wanted to try.
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Real estate agents are experts in all things related to the home. They have a responsibility to their clients, communities, and the market they represent, which is why it is essential that you are well-educated on the market you serve. If you're looking into the possibility of becoming a licensed real estate agent near Lexington, Georgetown, Versailles, Paris, Nicholasville, Richmond, Harrodsburg, Frankfort, or Winchester, you have come to the right place! Contact Us today to sign up for our courses and jump-start your career.
