The Covid19 pandemic has given pause to the real estate market in recent months, however, there remains reason to be optimistic about the Miami Dade real estate market.
As reported by Miami Association of Realtors the first quarter of 2020 showed recorded sales and price increases, with a slow down beginning in the end of March. Although experts will not know the full impact of the crisis, we do know there was an affordable home shortage prior to the pandemic. Simply put, there were more home buyers than sellers. Experts believe this shortage still remains and will continue to drive the sale homes in our market in upcoming months.
In April the real estate industry did see a decline in the number of closed sales and pending contracts, however, there are still many active qualified home buyers looking for homes. Plus, interest rates remain historically low. Now may be the opportune time to put your house on the market.
If you are considering buying or selling this year, simply contact Kristen to discuss your opportunities during this unique time period.