2020 in Real Estate

Dated: December 23 2020

Views: 32

Say good-bye to 2020!

Well, no one could have expected the real estate market to do what it did in 2020! When Covid hit and the world seemed to shut down in March 2020, everyone took a pause on purchases and selling. In fact, for 3 months I did not have any sales or new listings. The big question was " whats going to happen to the market?" Many thought we would all be very slow and nothing would sell. Well... fast forward to May, June, July, Aug, Sept, Oct, Nov and even Dec and that story was much different!

Buyers demand was extremely high and listings were in great shortage. People made choices to change where they were living and what type of property they wanted to spend the majority of their time in. People upsized to larger homes, moved locations and priorities shifted this year. With many people now shifting to home based work environments and having more flexibility on where they lived, people made decisions to move from their current homes to new locations throughout BC. 

Many people may be re-evaluating their retirment plans and deciding to set up a more consistent year round living situation and change their plans from travelling half of the year. The renovation industry was on fire this year as well! People decided to spend their travel money on home improvments and alter their home space to meet the needs of working from home (us incuded!)

2021 brings us hope that we can once again bring our families together, visit friends and feel safe going to the grocery store! If you have any questions about your real estate world and want to chat real estate I would love to assist in any way I can. I believe that with the interest rates low, rental rates high and the change in workplace environments the market will continue to be in high demand by buyers. However... . these days, no one knows for sure!

I wish you all health, happiness and prosperity in the new year! A huge thank you to all my buyers and sellers that put their trust in me in 2020! I also want to thank all the agents that have referred buyers and sellers to me this year. As well as a huge shout out to all my collegues I had the pleasure to work with on all of our transactions. Be Kind, Be Calm and Be Safe!

From my family to yours Happy Holidays and a very HAPPY NEW YEAR!

Blog author image

Tracy Lauriente

I have been passionate about providing exceptional real estate services to buyers and sellers for over 18 years. I am excited to belong to eXp Realty which is an agent owned brokerage. I will continu....

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