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Schaumburg Market Questions while under Quarantine
Most people that I talk with are concerned about how COVID-19 is effecting real estate. Will values stay the same? Will they decline?
Honestly at this time, I cannot look into my crystal ball & get a clear answer. I can tell you what I have noticed so far with as many numbers or trends as I can gather for you. Before your eyes glaze over when I mention numbers, I'll be sure to explain how they will affect you.
Just a disclaimer that real estate is a funny creature. One subdivision or town might be effected harshly & others will be fine. This is the way of the world so this report is a generality.
New construction housing starts are still moving along until the interior work needs to be done & social distancing has to take effect. It will delay closings which will cause even more pent up demand. Builders are closing homes but just in a new way in a new order.
Now in our Schaumburg Market I have found that during Week 1 of the Shelter in Place Order, we were going along pretty well with a total of 277 showings per week. This is for all Schaumburg housing types.
We were ... more
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