COVID-19 Not Slowing Down the Idaho Real Estate Market (So Far)

COVID-19 Not Slowing Down the Idaho Real Estate Market (So Far)

coronavirus causes virtual open houses

 

Contrary to what you might expect, the Idaho real estate market is still thriving — even in the middle of a worldwide pandemic. This is mostly due to the simple rules of supply and demand, which haven’t changed since COVID-19 entered the state. There are still not enough homes on the market to satisfy the demand. So Idaho homes are still selling quickly, and at record prices.

governor brad little extends stay at home order

The first case of COVID-19 in Idaho was found over 3 weeks ago, and since then, lives have changed for many Idahoans. Businesses have been ordered to shut down and schools are closed across the state until the end of the school year. And today, Governor Little announced that the stay-at-home order is extended until April 30.

While the real estate market hasn’t changed much, how Idaho Realtors must serve their clients has. Accel Realty Partners is adapting and putting the safety of Idaho’s residents first by doing virtual open houses instead of in person. Agents are meeting with their clients over Zoom and showing homes via Facetime. Some homebuyers are even buying homes before seeing them in person. Click here to learn more about how technology improves your real estate experience.

Looking at the numbers from March 30 to April 5, there were 1,455 pending sales. This was a 6% decrease from the week before. There were also 1,353 homes for sale during that week as well. This is a 10% increase from the week before. In fact, lower mortgage rates as a result of COVID-19 have excited homebuyers. 78% of REALTORS surveyed in Idaho said they haven’t noticed a change in buyer interest since the virus entered the state.

businesses closing down because of coronavirus

While much around us at this time is unknown, you can be certain of one thing: Accel’s agents are still actively and safely serving their clients and protecting the communities they help grow. And the Idaho Real Estate market has not let us down! In fact, April is the best month to list your home for sale. And despite the unique circumstances, an Accel agent will still guide you through the whole selling process. Learn more here.

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