SAN FRANCISCO, Calif. (KRON) – A new report by the Associated Press finds that nationwide home sales went up by 20 percent in June.
The housing market isn’t as strong as it was at this time last year, but after grinding to halt in March because of the coronavirus pandemic, the real estate market is heating up again.
Back in March when everyone was put under a shelter in place order because of the coronavirus pandemic, the real estate market took a big hit with home sales dropping as much as 80% in some parts of the Bay Area.
Things were slow for several months, but now sales are starting to pick back up again. In the East Bay, there are a lot of homes for sale.
Looking online on Wednesday, there is a lot of houses out there — In Hayward, Castro Valley, and all across the East Bay.
When driving around, there are a lot of for sale signs up.
KRON4 talked to a real estate agent out of San Francisco who says that things are improving for multiple reasons.
There are a lot of people who are moving to be closer to the family during the pandemic, the cost of living in the Bay Area remains high, and people who maybe were thinking about leaving anyway have now been pushed into that move by the pandemic.
Also, a lot of people are being allowed to work from home so they’re moving somewhere maybe with a little more space so they don’t have to live in an apartment next to their job for commuting purposes.
The big reason that moving right now is that they’re looking for more space.
“One of my clients moved to a larger house because they found that their two-bedroom condo with limited outdoor space was confining with them and their two children. That was a move they were planning on making someday but this pandemic pushed that a little bit faster,” Amanda Martin said.
Now, this is also a good time for people trying to sell their homes.
Prices remain high and the pandemic has also disrupted the normal flow of the year when home sales become more popular.
A lot of people would normally wait until after Labor Day to put their houses on the market but real estate agents, like Amanda Martin, are suggesting that people go on the market now because no one is traveling, everyone is home and they are looking to buy.
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