Today’s Housing Market Looks Starkly Different From Before COVID-19

Today’s highly competitive housing market looks quite different from how it did before COVID-19 struck.

Over the past two years, as the pandemic raged, the number of homes for sale plunged by over 57%, leading prices to skyrocket 25% from December 2019 to December 2021, according to a recent Realtor.com® report.

Last month, the number of home listings dropped 26.8% compared with the same time a year earlier. This meant there were about 177,000 fewer homes listed in what’s already typically a slower month due to the holidays and colder weather which few folks want to trudge around in to view homes.

“We expect that we’ll start to see a turnaround and inventory will stabilize and start to go up a little bit in 2022,” says Realtor.com Chief Economist Danielle Hale. “But that means we’re looking at inventory levels of roughly half of what we saw before the pandemic. For buyers, the market is likely to continue to move fast. If you see a home you like, you want to jump on it right away.”

Sellers, many of whom were nervous about allowing strangers into their homes during a worldwide pandemic, listed 12.9% fewer homes compared with typical rates in 2017 through 2019, according to the report.

As a result of the real estate scarcity, prices surged to new heights.

Read the Full Article Here: Now vs. Then: Today’s Housing Market Looks Starkly Different From Before COVID-19

 

If you are thinking of buying or selling anytime in 2022, now is the time to discuss your strategy. Give LeAnne a call or text 202-409-7513 or email [email protected] Do you research and know your options so you set yourself up for success!

About the Author
Herndon's #1 Home-Selling Agent - Call the experts today!

There are many qualities and skills that go into being an excellent real estate professional – integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills, and a high-quality professional network, all of which are hallmarks of how I work.

That said, in my experience as a real estate professional, I've also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs.

This "client first" philosophy has always been my approach and it requires me to continually improve my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients.

I have been a resident of Fairfax County since 2001 and have been assisting buyers and sellers achieve their real estate goals in Northern Virginia since 2005. My background includes sales and administrative management as well as 11 years of real estate sales and operations management experience serving top producing teams in Northern Virginia and Montgomery County Maryland.

My military family and I have traveled with the US Navy to Greece, California, Hawaii, Florida, and Virginia. Of all the places we have lived, we love Virginia the best. Ask me why! My husband, of 31 years, serves as a Residence Manager in McLean. We have 3 grown children that all graduated from Herndon High School. In my spare time, I enjoy spending time with family and friends, movies, and a good glass of wine.

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Melonie Tibbs and I look forward to serving you and your family!