Should I Think About Buying A Home During The Covid19 Crisis

Dated: 04/10/2020

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Should I Think About Buying a Home Now?  Buying a home during the COVID-19 crisis, and why it’s a good idea…

Question:  Should I still buy a home during the COVID-19 crisis?

Answer:  YES!  And here’s why now is a great time…

We’ve been in a “seller’s market” for a few years now, meaning that there has been more demand from buyers than home inventory for sale.  This means that many homes have had bidding wars, with multiple offers driving up prices and leaving potential buyers with no home at all. 

But that’s not the case right now.

So why not wait?  Won’t home prices come down because of the virus crisis?  The answer here is, “No, not likely.”  Many potential sellers will choose not to list their home during this time or after, especially if home prices drop at all.  That means inventory will remain tight, with less homes to choose from and more demand. 

Besides, even if home prices do come down some, they will rebound as the economy picks back up and recovers.  And mortgage rates are likely to rise at the same time.  So buying a home now, with rates as low as we are seeing, makes homes more affordable. 

If you’d like to discuss it more, or maybe find out more about home inventory and affordability in your area, reach out anytime.  We’d be glad to talk about it with you, and there’ never an obligation. 

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Maurice and Lick Realtors

Robert Maurice-- has been a Greater Phoenix Realtor for more than 15 years. He is known for his reliability, skill and honesty in all his dealings. Because he believes that every transaction is firs....

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