Perhaps the most unexpected effect of Covid-19 is the real estate boom, with an average of 42% of home listings nationwide selling in two weeks or less.
Lombardo Homes recently analyzed housing market data to determine which real estate markets have been most competitive during the COVID-19 pandemic.
Here’s what they found:
- Where homes have sold the fastest during COVID-10:
1. Seattle
2. Omaha
3. Lexington
4 .Denver
5. Indianapolis
6. Portland
7. Oklahoma City
8. Sacramento
9. Oakland
10. Tulsa.
- More than half of home buyers said the Covid-19 pandemic accelerated their home buying process.
- 77% believe competition for housing has increased since Covid-19, and 75% have had a home go off-market before they got to look at it or put in an offer.
- Despite many lowering their budget during Covid-19, 82% would still go over budget by $31,000 if they found the perfect home
Take a look at the report.