House Values 2020 BEWARE- COVID

House values in pocketed areas are strong again. Interest is LOW, however the economy is trending downward as we wait for the solutions to the virus. Watch/ wait 6 months from now to see the real affects on the housing market. If you study it you will see lumber, materials, copper, and building are lagging,
Home depot and Lowes are doing well- why you ask? Because people are staying put, repairing and updating because the economy needs to rebalance. Houses may drop, if demand goes soft- it is, relatively speaking, soft now. Beware when buying , get the house you want at the price you want, don’t be emotional, don’t over buy.
This is a difficult time in the market for appraisers too.
We know our market, however open houses, market demand, viewing, and tours are down now because of COVID. It has become another market consideration, it has taken over home buying.
Buyer beware, and educated- watch the sunset a little bit longer right where you are!