How the Pandemic is Affecting Homebuyers in St. Cloud

Dated: 07/31/2020

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In the days before COVID-19, had you asked most people how a pandemic might affect the homebuying public in St. Cloud, a fair majority would probably have replied something along the lines of “Well—it probably wouldn’t be good.”

We now know that they would have been wrong (at least, initially).

Nationwide, most areas are experiencing an onrush of newly motivated buyers—many of them seeking to adjust to today’s changing needs. In a recent article in Barron’s, the CEO of a leading national homebuilder, Sheryl Palmer, described motivations of many newly energized homebuyers: “What I have to do working from home has just changed, and I can’t retro my house.’”

Simultaneously, at the same time that this increased buyer demand would normally coax homeowners into the market, many would-be sellers are hesitant to list their homes, because—well—pandemic! This in the face of interest rates, which, holding near all-time lows, translate into more affordable monthly mortgage payments and higher asking prices!

With the increase in demand and stubbornly low inventory, it’s hard to argue there could be a better time to sell. So, although much remains to be seen about the course of the virus and the short-term effects of the on-again, off-again economy, residential sales are happening—homebuyers in St. Cloud are buying.

If you have been considering selling, pandemic or no, there’s little reason to suspect that tomorrow’s market will be more favorable than today’s. Call me—let’s come up with a strategy that works for you!

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Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

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Noel Johnson

Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Years of purchasing, developing, and managing several rental properties, while assisting friends & cli....

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