Is Real Estate a Pandemic Resistant Industry?

By
Real Estate Agent with HomeSmart Real Estate BR632450000
https://activerain.com/droplet/5pnl

The US way of conducting life and business has changed recently with the Pandemic of 2020. My businesss is real estate and it is certainly affected what I am seeing compared to last last year.

 

We all have heard that certain types of industries are economic downturn or depression resitant and that my go for pandemics too.

 

For years industries resistant to downturns have been:

 

1. Groceries 

Groceries at Costco

2. Drugs

3. Gasoline (people need to get to work)

4. Clothing (people need to wear clothes)

5. Personal hygiene and beauty projects (people try to look good even when times are bad) 

 

People need these goods and services even during a downturn

 

Real Estate Pandemic Resistant Industry in Arizona

 

Phoenix Arizona Metro area Home prices reached their highest ever average selling prices in history first in August and then the record was broken again in September...and this was right in the middle of the COVID19 Virus! What is going on?

 

People need to live somewhere (Real Estate) so when the economy is bad people are still pretty much living indoors out of the elements.  However prices have fluctuated. For example in San Francisco rents are dropping as they are in New York as people are fleeing densely populated cities that seem to be a magnet for the China Virus as well as unrest. Cities like my city in the Phoenix metro are drawing new residents to the tune of about 6,000 new residents per month with half of those coming from California.

welcome to arizona

People are seeking more suburban living and the wide open spaces that Arizona offers. As a result new building is continuing and home prices and rents are on the rise. This in my local market seem to indicate that Real Estate is a Pandemic Resistant Industry. Of course if you live in New York or San Francisco a Realtor may feel differently.

 

Several of my last sales were to Californians and New York metro individuals fleeing those environments and it appears that recent trend is continuning.

 

Meet Jeff Masich, NO RISK REALTOR® when looking to sell or buy a home in Phoenix Arizona metro 

       Meet Jeffrey Masich, NO RISK REALTOR® to get started

 

For, the largest metro area in the state, here are all single family all detached homes for sale in the Phoenix Arizona MLS.

 

If you are looking to move to Phoenix including Scottsdale or other areas of Arizona to buy a home in Arizona or sell a home in Arizona, contact Jeffrey Masich, Associate Broker and REALTOR®. I would be pleased to help you and look out for your best interests while finding you the right home at the right price!

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Press FREE MLS Search to search for Arizona Homes and Land for sale with a focus in Central Arizona. Separately, if you wish to focus on other areas of Arizona including Tucson, Colorado River, Flagstaff, Show Low and Mogollon Rim cities check AZHomesLand.

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

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Topic:
Real Estate Market Trends
Location:
Arizona Maricopa County
Tags:
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corona real estate
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arizona homes and land
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Show All Comments
Rainmaker
3,464,024
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff what a great post, and Groceries are high up there, in my case Wine is not that far behind... clothing.... well that is another story:)Endre

Oct 25, 2020 11:13 PM #1
Rainmaker
1,541,400
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Jeff,
Yes, people need to live somewhere and they've been rethinking their current living situation. Lots of movement going on.  We have certainly learned which are the pandemic resistant industries, haven't we?

Oct 26, 2020 07:34 AM #2
Rainmaker
849,294
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Roger that Endre Barath, Jr.  on the clothing being pandemic resistant industry. I guess for some guys you can change the color of your T-Shirt once in a while and say...I am good to go! Jeff

Oct 26, 2020 09:13 AM #3
Rainmaker
849,294
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

For sure Carol Williams the great thing about in America is that even when there are downturns other industries are developed to find an opportunity in  a downturn. For example the once popular dinner buffet restaurants are taking a beating while take out restaurants surge. Real estate in non dense areas is the same during a pandemic (not to mention those with lower taxes and fewer regulations). That type of real estate becomes more in demand. Jeff

Oct 26, 2020 09:16 AM #4
Ambassador
3,083,060
Anna Banana Kruchten CRS CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI so many people have and are re-thinking their living situations. And many are moving to AZ.  It's been interesting for sure!  Great post!

Oct 26, 2020 11:10 AM #5
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Rainmaker
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI

Arizona Homes and Land Group/ Buy or Sell
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