Springfield Market Predictions for Spring
Even before the Stay-At-Home order for Missouri, the Springfield Market has been strugging with low inventory. Homes under $200,000 do not stay on the market longer than a week, if priced right. Higher priced homes are lowering their prices to get their homes sold.
The Coronavirus is starting to cause some homeownerss to question whether to sell or wait for the virus to subside. We are also hearing of delayed closings due to layoffs or loss of jobs.
What is this going to do to the upcoming Spring selling season? Your guess is as good as mine, but here is my prediction:
With inventory remaining at an all time low for the Springfield Mo and surrounding areas, buyers will continue to look, purchase and close, keeping the inventory down. Sellers will continue to sell at high market values.
If the stay-at-home order continues for a few more months, homeowners will begin to be late on their house payments. Investors with large rental inventory will begin to see rent payments lag behind and their financial stability will be in jeopardy.
With these ever changing times, we are still here working on listing and selling homes in and around Springfield Missouri. Give us a call to see if it's time for your next move.