Home buying interest is down 90% nationally; local real estate agents say they're holding steady
With the coronavirus pandemic prompting economic worries, analysts say home buying interest has plummeted by 90 percent nationally. But realtors around here say they haven't seen that much of a decline yet.
Housing markets elsewhere have been hit hard, but Bismarck realtors say their market is holding steady for the time being amidst plenty of changes they've had to make during the pandemic.
Real estate agents say the housing market is ready for both buyers and sellers.
"I think the market is still good, it's steady. With interest rates being really low, buyers are still popping up," says real estate agent Amber Sandness.
She says they've seen a decrease in open houses, but many sanitary precautions are put in place for buyers that still want in-person viewing.
"My wife cleans it religiously every day just because we never know when somebody's going to call, so we go through it...open up all the doors, get hand sanitizer ready, there's Clorox wipes ready," says seller Brandon Kramer.
But virtual tours are increasing for those who may not feel comfortable stepping into someone else's home.
"So you can sit in your own home, and you can walk through the home through the virtual tour," says Sandness.
Sandness says the lights are still on in the real estate market.
If you're in the market for a new home and want a virtual tour, you can go to BismarckMandanHomes.com