5 Ways COVID-19 Is Affecting the Current Real Estate Market

Every part of the economy has been affected by the ongoing COVID-19 pandemic. The real estate market is no exception. Here are five ways that the pandemic has affected all participants in real estate, including real estate agents, buyers and sellers.

1. Hesitancy of Sellers

Sellers have been hesitant to put their homes on the market. This has led to a sharp drop in existing home inventory. The low supply has created a new challenge in the real estate market. At the same time, construction of new housing units dropped, which contributed to the low inventory problem. The United States overall has about a 30-day supply of homes for sale. A 90-day supply is considered optimal.

2. Fewer…

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Examining the Pros and Cons of Buying Versus Building a Home

Everybody loves getting brand-new things, especially if the new thing has been custom-made to fit your needs. However, whether it is a suit, a car, or a home, new things that are custom-made are more expensive and usually take longer to deliver. This is an important factor to consider when determining whether you should buy a house or have it custom-built.

A house is a major financial responsibility. Making the wrong decision could affect your budget and the level of happiness you have with your new home. The following are a few pros and cons of building a home versus purchasing one that's already built.

Is It Less Expensive to Build or Buy?

According to the National Association of…

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