Is It 2008 All Over Again?

How are you doing? Are you finding the most difficult thing during social distancing is your mindset?

I am.

I’ve been a licensed Realtor since 2008. In other words, I survived the Great Recession and crash in the real estate market. Having that scar tissue, as many home and investment property owners can also attest makes me a little bit paranoid. Frankly, it’s tough to keep the thought “not again” out of my head.

I guess they call that FEAR. And fear is nothing more than an acronym for False Evidence Appearing Real.

So I set out this morning to find data to either prove me wrong or prove me right. And I was surprised by what I found.

Right now, there are a grand total of 73 active duplex, triplex, and fourplex listings in the seven-county metro area.

There are currently 71 listings that are either pending sale or the sellers have signed an offer and are waiting for the inspection contingencies to be removed.

In February, there were 65 properties sold. Last year in February there were 58.

There were 71 properties sold in January of this year; up from 56 in January of 2019.

The moral of the story is things are still selling. In fact, we are still finding ourselves in multiple offer situations.

That makes me feel better. And if you’ve been thinking it might be time to sell; either now or when this is all over, I’m sure it makes you feel better too.