In a recent survey done by LendingHome it was found that house flippers, landlords, and real estate investors all believed that the impact of the pandemic on the housing market was short-lived.
In fact, the CEO of LendingHome expressed his surprise over the amount of optimism shown by these various real estate professionals. There were 42% of the total respondents who believed that there would only be a six-month interruption from the pandemic. Also of interest is that 12% said they’re not experiencing any impact as a result of the pandemic at all.
Other researchers have found that as some professionals slowed down their businesses during the pandemic, there was less competition, which allowed others to experience growth. Many simply changed the way they were conducting business to be compliant with various COVID19 ordinances and experienced no negative impact whatsoever. During the early phase of the COVID shutdown, there had been concerns that the housing market would drop as inventory remained on the market too long. However, those concerns proved to be unfounded.
Although the COVID19 pandemic did slow things down for a few weeks, overall there has been no long term damage to the industry. There have been changes in buying habits, however. One such change being an increased interest in rural properties.
Yahoo Finance reported in a recent article that “homes were flying off the shelf” with the average listing time being 22 days. That happens to be the fastest pace since June of 2018.
Real Estate has remained strong, while the stock market has taken numerous hits since the onset of the pandemic. Many investors have experienced significant losses, and though the market is slowly improving, they’ve begun diversifying their portfolios to include real estate.
Here at REI Signature Homes and Properties, we have experienced people working on our projects, helping us complete renovations and bringing our completed and quality homes to market on schedule. Our private money investors are experiencing better-than-market returns and we have been happy to report that the pandemic has not negatively impacted us. More and more we’re hearing from private money investors looking for the healthy and stable profits that real estate brings to the table.
If you are interested in becoming one of our private money lenders, download a copy of our ebook, “How to Become a Private Money Lender and Avoid the Pitfalls” and if you like what you see, reach out to us because we’d love to talk with you too.