Local Expert Discusses Real Estate Market Future

Steve DuBrueler, Founder and CEO of Coldwell Banker Premier, the #1 real estate company in the

region*, recently hosted a virtual Town Hall meeting for his agents. During that meeting, he shared some

market data and predictions for the remainder of 2020. Following is a summary of these insights. This

information is not only vital for real estate professionals but also for homeowners, investors, and anyone

interested in the real estate market.

Employment Impacts – With over 30 million people currently unemployed, there is some concern over

the market response. Overall, the majority of affected people will be able to return to work in a fairly short

amount of time. However, real estate is tied to jobs so until employment stabilizes, there will continue to

be a degree of uncertainty.

Interest Rates – As a result of the pandemic, the Federal Reserve has cut rates to the bone. Now is a

great time to buy or refinance. We expect to see rates to stay stable for the foreseeable future.

Supply and Demand – Listing inventory still remains low in most areas. This means that buyers are

facing increasing competition and even multiple offer situations. The nationwide shutdown has created

some pent up demand for home sales, since many buyers and sellers chose to wait. Over the next 90-

120 days, we expect to see a surge in market activity. If you are a seller, NOW is the time to list before

the opportunity passes by. Elections tend to have a slowing effect on markets. The fall will likely see the

market momentum decrease into the winter months.

Mortgage Forbearance – There appears to be a lack of guidance surrounding the repayment of deferred

payments as a result of the pandemic. Borrowers should practice due diligence when seeking a

forbearance and consider only doing so as a last resort.

Moving Forward – Due to the increased viability of telecommuting, we expect that some companies will

take advantage of the savings by reducing office sizes and allowing more employees to work from home.

This would be a positive trend for this region, as we would likely see an influx of buyers moving away

from metro populations in favor of decreased cost of living and more affordable home prices.

For more information or to consult with a real estate agent at no charge, contact Coldwell Banker Premier

at (800) 835-0811 or email HelpDesk@PremierMove.com.

*Source: 2020 RealTrends 500