"It's almost like Covid-19 hasn't had any impact on the housing market"

Published: May. 28, 2020 at 8:57 AM AKDT
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In the real estate industry, covid-19 has affected how agents do business but you may be surprised to learn that it has not affected the bottom line.

"It's like covid-19 hasn't had any impact on the housing market," said Connie Yoshimura, a broker for Dwell Realty, which is soon to become Berkshire Hathaway.

According to Yoshimura, it's not just that the sales numbers have avoided a big dip, they are actually up.

"For example, there have been 81 single-family sales pended last week which is twice the number of sales for that same week in 2018," Yoshimura tells us.

With that information in mind, the question becomes why? What is causing this uptick?

"I attribute that really to we have record low inventory and we have historic low interest rates, so the combination of those two factors," said Yoshimura.

While most housing under five-hundred thousand dollars is selling and largely receiving multiple offers, there is one area that is depressed -- the condominium market.

"It has actually had a 12.98-percent decline in sales volume so far this year," Yoshimura noted.

Still, the overall numbers are strong and for those looking to sell, perhaps that's a bit of good economic news at a time when it is sorely needed.

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