Local real estate market showing signs of recovery amid pandemic

Local real estate market showing signs of recovery amid pandemic

Almost every market across the country has been impacted by COVID-19.

Whether it be the restaurant industry, education system or local businesses.

One of the markets that has been able to recover during all of this is the real estate market.

ESTATE MARKET IS SHOWING SIGNSOF RECOVERY.

ONE REAL ESTATEAGENT WE SPOKE WITH SAYS BUYERDEMAND IS REALLY STRONG RIGHTNOW.

THE AMOUNT OF PROPERTIESFOR SALE IN BALTIMORE IS ALSOLOW....WHICH MEANS PROPERTIESARE GOING VERY QUICKLY....GOOD PRICES.

HE SAYS ITS ARETURN TO THE TRENDS THEINDUSTRY SAW AT THE END OF20-19.

"2019 WAS A GREAT YEARFOR RESIDENTIAL REAL ESTATE INBALTIMORE AND YOU SAW THATTREND CONTINUE AT THEBEGINNING OF THIS YEAR,JANUARY AND FEBRUARY WERERECORD MONTHS IN BALTIMORE FORRESIDENTIAL REAL ESTATE SALES,EVEN THE FIRST HALF OF MARCH,BUT IT WAS THE SECOND HALF OFMARCH WHERE THE COVID EFFECTREALLY KICKED IN." IN TERMS OFA COMPLETE RECOVERY... HE SAYONE OF THE THINGS TO PAYATTENTION TO IS THE SPRINGMARKET.....THAT'S THE APEX OFTHE YEAR... AND THE VIRUS PUTA LOT OF THAT NORMAL ACTIVITYON HOLD.

THOSE PROPERTIES AREEVENTUALLY GOING TO COME ONTOTHE MARKET... AND THAT'S GOINTO BOOST INVENTORY LEVELS.

HESAYS WHEN THOSE HOUSES DO HITTHE MARKET....THEY'RE GOING TOBE MET BY A LOT OF FOLKS THATWANT TO BUY.

YOU CAN WATCH OURFULL INTERVIEW AT WMAR 2