When everything changed in the spring, there were a lot of questions on everyone’s minds. You didn’t know what was going to happen with real estate. Your clients didn’t know what was going to happen with real estate. And worst of all, a lot of the news that came out had frightening headlines that made everyone expect the worst about the housing market.
That, obviously, didn’t happen.
So if we learned anything from this year, it’s that we should always have our finger on the pulse of the industry. Especially because the agents that did, and were able to relay that information to their worried clients, were the ones who came out ahead.
Case and point, staying on top of the latest market insights is and always will be important.
Nothing will test your sanity like being locked in a small apartment in a city for months on end.
That leads us to one of the more surprising real estate trends of 2020: the urban to suburban shift.
Whether they were looking for more space, better accessibility or a bit of fresh air, nearly 68% of agents across the country noticed a moderate to significant shift to more suburban or rural locations.
While no one is sure if this trend will stick around, the increase in remote jobs could mean it carries through to next year.
When state-wide quarantine orders swept the nation in March and April, everyone expected the worst about the 2020 real estate market.
However, those worries were quickly lifted when buyer demand didn’t slow down. Instead, the hot spring market was just postponed for a hotter summer market, leading to a record number of sales.
If we learned anything from this year, it’s that we can’t totally predict what the future holds. However, the 2021 housing market forecast looks promising and experts project that this year could be just as busy.
While most of us would rather forget 2020 happened, we can’t deny the impact it had on real estate.
Suddenly industry standards weren’t so standard, and agents across the country did whatever they could to keep their business going. This upcoming year hopefully won’t be as eventful, but there were still a lot of big learnings to take into this new year and beyond.
By knowing last year’s biggest takeaways, you can make a plan for success and be prepared for whatever real estate throws at us in 2021.
Because if we had to sum up the past 12 months into one big lesson, it’s that above all else, keeping current matters.