The Central Ohio Housing Market Prevails Through the Pandemic
The coronavirus has now spread throughout much of the US, taking a toll on the nation’s most populated cities and states. It has already wreaked havoc on the stock market, and if it’s not contained, it could affect the housing market.
Right now, interest rates are low, which gets younger buyers excited, but is also now clogging the application process for many home mortgage lenders. There’s also the luxury home market, which real estate experts in Ohio markets say could be directly impacted by COVID-19 and the Fed’s fiscal response. The Columbus market has already been seeing the direct effects.
With all this being said, thanks to central Ohio’s position as a resilient market due to their strong economy, the area won’t be affected as much as other markets. For now, agents should focus on how to adapt their business to the needs of their clients through less face-to-face interactions and utilizing technology to better serve buyers and sellers. This virus brings inevitable change and requires all real estate professionals to reassess how they perform their jobs and create relationships within their community. Our free Doing Business During COVID-19 course is available on our website to help you get a better understanding of how to navigate your business through these times.
For news and updates on the Ohio housing market and the effects of the coronavirus, be sure to follow The CE Shop Agent Essentials resource pages and stay up-to-date with news and trends in your market. In strange times, we could all use some help navigating the world around us.