CHARLOTTE, N.C. — With interest rates at a low, some 30-year fixed under 3%, now might be a good time to buy a home. A new survey by Zillow shows many buyers are not put off by COVID-19 and are willing to buy and sell without seeing or showing a home.
Building has not come to a stop and home sales are considered by many financial experts, to be robust, even though the sectors of the economy remain sluggish.
The real estate market is adapting with even more digital innovation as a new survey shows 36% of buyers are willing to buy solely online.
Amanda Pendleton is Zillow’s Lifestyle Expert based in Seattle, another hot market in the Top 25.
"Even more people, 43% said they would be willing to sell their home almost entirely virtually," Pendleton said.
The Charlotte market, for example, is seeing the low levels of inventory and demand is high as a result, prices remain steady and sellers are benefiting.
There has been a 5% increase in home prices since COVID-19 hit.
Other hot markets include Boise, Idaho; Cleveland, Ohio; Tampa—St. Petersburg, Florida; Spokane, Washington; and Columbia, South Carolina.
Sellers are clearly adapting to the wants and needs of buyers and showing their homes virtually. The other COVID-19 win for sellers is all this stay-at-home time. Big box stores fared well as homeowners soaked up the extra time at home by punching out that honey-do list.
Andrew Greenberg is a real estate agent with Keller Williams. He said inventory is very low right now.
“It’s definitely a sellers’ market right now,” he said.