COVID-19 has affected the landscape of how companies are doing business and the real estate market and lending companies are definitely included. One of the biggest changes for the real estate market is viewing and buying homes remotely. We have grown accustomed to when buying or selling a home the majority of it is all done in person. Well, the pandemic has reshaped this process and now realtors are conducting virtual home tours, virtual closings and more.
The real estate market is also seeing a rise in digital lenders. Today’s digital lenders can often times be more convenient, faster and provide a simpler way to offer financing and sometimes at discounted rates.
It’s forecasted with the low financing rates, low inventory and extended buying season that the market will stay strong well into 2021. The landscape of the real estate market has changed from the ground up and it appears it’s here to stay for the long term. Make sure your agent is up to date on these and other new trends.