Real-Estate Sales Down & Will Get Worse
The housing market took a tumble in March and looks like it will continue to roll down hill in April and May.
According to WOOD, home sales across the country have dropped nearly 10% in March alone and experts say the worst is yet to come.
Sales of automobiles, clothes and housing are all down but the real housing numbers are not in yet because March numbers were really from January and February deals that were already in place.
If you are selling, things are not well, but if you are in a situation where you feel you can buy, the ball is definitely in your court.
If you are looking to move your house or even some property you better get it in your mind now that if you need to sell, you will need to do it at a lower price.
The longer there is a shutdown the more difficult it will be to sell a home or land and when this will all bounce back, well its still to hard to tell.
Even as restrictions will loosen in May, that will still not be enough to kick the housing market into gear.
There is somewhat of a silver lining for West Michigan homes and that is, there are a lot of younger people living in the region that will be looking to purchase homes. There is even the possibility of people wanting to move more to the country to avoid numbers of people because of the pandemic.
Now if I could just get the Amish to lower the price of the land next to me.