Pent-Up Demand Will Drive the Summer Real Estate Market

“COVID-19 has put so much on hold, including looking for a new home. People are saying, ‘Hey, we need a bigger home.’ People are working from home more than ever before. There is a lot of pent-up demand to find a new home.”

RE/MAX AT THE CROSSING:

PENT-UP DEMAND Will Drive the Summer Real Estate Market

by Matt Keating

Many families are looking for a new home these days after realizing they need more living and work-fromhome office space – and that will drive the summer real estate market.

Phil Hotle with RE/MAX At The Crossing added that people are starting to get back into their normal routines, which includes finding a new home.

“COVID-19 has put so much on hold, including looking for a new home,” Hotle said. “People are saying, ‘Hey, we need a bigger home.’ People are working from home more than ever before. There is a lot of pent-up demand to find a new home.”

Because of COVID-19, the spring real estate market, which would have been March through July, has been pushed back to June through early fall. Many people will want to be settled into their new home before the holiday season begins.

Younger families have come to the realization that they need more rooms for E-Learning and Zoom calls for work and school. Spaces where family members can go to get away from the household noise and don’t have to talk over each other.

Empty nesters are realizing they may want a home that will accommodate multiple visits from their kids and grandchildren as people spend more time together at home and less time in public spaces. “I call it right sizing instead of downsizing.” Hotle says. “People may want a bigger dining room to accommodate their family dinners or provide a nice workspace. They also might want a bigger basement or recreation room for the grandkids.”

Instead of looking for an existing home, people may wish to build a new home. The new home sales and construction segment of the market is also thriving, and a realtor can help you navigate that process.

Whether purchasing and selling a current home or building a new home, Phil Hotle of RE/MAX At The Crossing is here to provide guidance with your next real estate transaction, contact him at 317-919-8504.

Phil Hotle PHIL HOTLE RE/MAX AT THE CROSSING 317.919.8504 photle@remax.net hotlehomes.com