Market Responses COVID-19

2 Replies

I've seen so many posts on this, but I want more insight.

I'm a new investor in Charlotte NC (and surrounding areas), and am wondering what you expect the market to do in the coming months.

I know a lot of this will change if there is any additional stimulus, or mortgage relief, etc. But as of now, what are the general consensus on where the market will go? I assume that cities more in line with tourism will be hit harder than others, but Charlotte doesn't fall into the tourism category.

At the end of the day I know that cash is king.  Any advise for a new investor coming in right as this pandemic hit?  Thanks!

@Payton Ball I'm in Raleigh, and so far it's still a seller's market. I do expect there will be at least a flattening for a while as the economy shakes itself out, but the people in my area hoping for killer deals to come out of this are probably going to be disappointed

North Alabama’s housing market grew in in May, avoiding a COVID-19 slump as sales agents move toward the prime summer home market. But not every county in the region saw the growth.

Across the region, 1,278 homes sold in May, according to the Huntsville Area Association of Realtors (HAAR). The average sales price region-wide was $250,000, and the average time on the market was 49 days.

In May 2019, by comparison, 762 homes sold in the area with an average sales price of $258,000 after an average of 54 days on the market.

Number of sales and price climbed in the Huntsville-Madison County market, Athens-Limestone County market, Marshall and Dekalb county market and the Etowah-Cherokee county market. Sales declined in the Morgan-Lawrence County market and the Jackson County market.

"May 2020's statistics show that our local industry continues to avoid any downturn related to COVID-19 and social distancing. This is due to the unique state of our local market and economy, as well as widespread use by REALTORS® of tools like virtual open houses, remote notarizations and more," the association said.

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