The Real Estate Market Up or Down? It All Depends

I get this question at least two to three times a day, " Matt how is the market?" and my answer is never bad or good, I usually say it all depends how you look at it. I know what your thinking, but Matt how is the market? What I can tell you as a professional it does not matter to me whether a market is good or bad for a professional there is just "The Market".

So pre-covid 19 we went into this market with a deficit of homes and now that deficit is even larger, the first 2 weeks we were at a stand still because Realtors were not considered essential, but as son as we were we started getting the calls and online traffic has surged.

I have seen an uptick in NYC traffic also, a lot of people in NYC want to move out of the city at this time and they are looking across the hudson to do so, also the other reason is that home buyers realize this is a great buying opportunity, not so much about lower home offers but the financing side of buying a home is really looking good right now.

We went from a Want Market to a Need Market in Nutley & Belleville, so the serious buyers are out there and the serious sellers are as well, we are now in the adapting phase and this whole event has not impacted home prices at all yet in my area.

If you have anymore questions about Real Estate in Nutley, Belleville & Clifton please reach out to me at 862-228-0554 or email me at matthewdefede@realtyexecutives.com

Matthew De Fede, Broker.Owner / Realty Executives Elite Homes.