How has the Coronavirus affected the Scottsdale Housing Market?

Bemo Homes offers Virtual Home Tours and Live Video Tours

Before the Coronavirusthe Scottsdale Housing Market was a very strong sellers market, and home values were increasing at a high rate. This was due to the lack of supply of homes in Scottsdale, and the high demand to buy them. We had a very healthy housing market with safe loans and cash. 

Since this COVID-19 craziness with the quarantines, social distancing, closings, economic downfall, and overall scare of the unknown, our housing market is still strong and is STILL a sellers market. The supply of Scottsdale Homes for sale have gone down a little because of a few reasons. One reason is that potential property sellers in Scottsdale are not wanting to make any big moves right now until things settle down. The other reason is the fact that sellers just don’t want people in their homes. This has drove up the need for doing Zoom video walk thrus and Virtual Tours. Bemo Homes offers both of these options and you can select "Schedule Virtual Tour" on our website when viewing individual homes for sale. We will then go to the property you like and record our walk thru as though you were there with us. Then we will deliver the video to you and go from there. The other option is a live Zoom, Facebook Messenger or Facetime video. Your choice. Search the latest Scottsdale Homes for Sale.
Home Sale demand has also gone down a little because of a few reasons. Some people don’t want to go see a home in person because of social distancing and the quarantine. Others have lost their jobs or are laid off, either temporarily or permanently. And again, no one wants to make any moves until things get back to some kind of normal and the economy starts back up.
The fact is that Scottsdale home values are not expected to drop by much if at all. The rate of appreciation may temporarily decline due to the fact that there is still a lack of supply of inventory out there. Currently, it is still a sellers market and we will still see appreciation in Scottsdale home values, but a little less extreme than before all this. 

MY PROFESSIONAL REAL ESTATE ADVISE: If you thinking about buying a condo, townhouse, or home in Scottsdale, you will have less competition. In some cases, less competition means you can negotiate a better price than before this all happened. So, if your job is secure and/or if you have the money, it is a great time to buy! Home values in Scottsdale will continue to go up. And, if you are considering a Mortgage Loan, rates and programs have never been better. Click here if you would like to talk to our amazing Senior Loan Officers today.

Side note to all homeowners, landlords, and renters. If you have lost your job, either temporarily or permanently, or your business has slowed down and you are going to need some help with your mortgage or rent here is a website you can go to try and get some help. Hopefully this is not the case but worth checking out if it is. Click here for more info.

Do you have any questions about the current Scottsdale Housing Market? Want to start up your free Home Search? 



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Click here for the latest Scottsdale homes for sale. We would love the opportunity to show you any of the Park Scottsdale real estate.

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Please call us at (480) 600-2477 or Contact us today to find out how we can be of assistance to you!