2022 Boise Idaho Real Estate Blog

Homebuyer demand has not been slowed by COVID-19

Main Treasure Valley Life

The COVID-19 pandemic has slowed down many parts of the US and global economy. However, one industry in America has seen an increase in activity as the pandemic has spread: Real estate. If you are wondering if this is the right time to buy a house, don’t wait any more.

According to Redfin, demand for homes nationwide is 25% above pre-pandemic levels(source), spurred on by the desire to move to the suburbs away from urban centers, historically low mortgage rates, and access to virtual touring methods (more on that later).

One important note. Despite all of the buyer interest, it is still very much a seller’s market. The COVID-19 outbreak has slowed the building of new housing, which has made the housing shortage somewhat greater. As such, the homes currently on the market are selling faster, for more money.

Use this tool on BuildIdaho.com to get an automatically-updated snapshot of the real estate market in Boise and the Treasure Valley.

Virtual tours are the future, now

Many people are rightfully wary of touring a home in-person due to the Coronavirus. In all of the in-person tours conducted by Build Idaho real estate agents, there are masks, gloves, and hand sanitizer provided for safety for the buyer, seller, and agents.

If you don't want an in-person tour, use Build Idaho’s state-of-the-art virtual tours. We use immersive 3-D Matterport scans of every inch of the house to give you the feel of actually walking through the house. We are working hard to make sure that as many Build Idaho listings as possible have matterport tours, so you can have a great home search experience from the comfort of your home. Here is an example:

There are also 360 degree aerial drone views of many new subdivisions to let you view the entire subdivision and the surrounding area in stunning detail and clarity. Here is an example:

While many facets of life and the future are unclear thanks to the COVID-19 pandemic and the economic recession, there is plenty of evidence that shows that real estate is not going to slow down anytime soon. Give our agents a call at 208.219.7683 and start your home search today.

Posted by AndrewS at 7/11/2020 12:40:00 AM

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