Real estate market booms during pandemic

CSRA News

AUGUSTA, Ga. (WJBF) – Real estate is a booming market in quarantine. Agents say it’s a phenomenal time to buy or sell your home.

Some say they’ve even done it over video-chat.

The stay at home orders seemed to be the perfect advertisement for real estate agents…without even trying. Spending time home calls for more property to do things.

On a sellers side, there are a lot fewer homes for buyers to choose, so they’re getting multiple bids. Last year, they saw around 3,000 homes listed in the CSRA. Now, that’s around 1,200.

On a buyers side, there are historically low interest rates. Real estate agents suggest getting pre-approved with a local lender before you shop.

Real Estate Agent with Meybohm Real Estate, Joe Seamon, says, “people have started working from home, a lot of parents, you know, are home schooling now, so they are realizing ‘I need more space. I am totally out of the space that I have in my current home.’ And that is what is driving the market currently.”

Also, an economic recession calls for more jobs, which calls for more people. So, diverse housing plans are critical.

People are seeking job security and hoping to call the CSRA home. So, there’s a huge need for development.

In Columbia County alone, it’s grown exponentially.

Executive Director of the Development Authority with Columbia County, Robbie Bennett, says, “since 2000, we’ve had 77% population growth. It’s a lot, and that’s continuing. So, that growth is driving the real estate market. So, you’re seeing more and more people wanting to call Columbia County home.”

Real estate agents say buyers want to take advantage of the low interest rates. As for the listing– sellers are placing over-asked bids.

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