South East Real Estate and Home issued the following announcement on May 21.
As home prices have surged over the past few years, many buyers have been chasing affordability. They've sought out smaller homes, fixer-uppers, and abodes in farther-out neighborhoods and suburbs to save some dough. And now, with the novel coronavirus sickening the world's economy, resulting in tens of millions of furloughs and job losses, affordability seems more important than ever.
Trouble is, just because an area boasts reasonably priced homes, it doesn't mean buyers can snag those deals. Especially now.
The number of homes for sale has plummeted since the COVID-19 pandemic took hold on U.S. soil, making it tougher than ever for buyers to find a home in their price range. Sellers have pulled listings off the market at a rapid clip, as many didn't want to sell or accept a lower price during a public health and financial crisis.
Original source can be found here.
Source: South East Real Estate and Home
Alerts Sign-up