Every corner of the real estate market is struggling to predict the future and what will come next.
Following the Great Recession of 2008, many investors kicked themselves for inaction and missed opportunities. Many experts predicted a dip in the housing market in 2020, but none could have predicted it happening so quickly and being due to the COVID-19 pandemic.
The biggest question for investors is still: Is the right time to invest during the coronavirus pandemic?
The lynchpin for this largely depends on local stay at home orders, which affect the ability for potential buyers to view properties, and sellers to feel comfortable with strangers in their homes.
Not all types of real estate are going to be affected equally; hospitality and office space may see a sharp decline, where 1-4 residential units may see less of an impact.
“As a community, we must unite and bring back our economy once this coronavirus pandemic is over.”