Despite the economic downturn lately, the housing market is believed to be largely unscathed when the economy bounces back. Just remember, the stock market correction is being caused by outside factors and not any issue with the housing market like in 2008. Still dreaming of buying your first home? Just because you're stuck inside, don't give up on your dreams of homeownership! There are still plenty of things you can do to keep the dream alive and moving forward.
1. Get pre-approved if you can and talk to a lender if you or someone in your family has become unemployed or furloughed. They can lead you in the right direction so you can be prepared when you are ready to make an offer.
2. Virtually connect with an agent. While real estate offices are closed across the state PA, real estate agents can still meet with you virtually and even work with sellers to show homes virtually.
3. Keep looking at listings online, new listings are still going on the market! Inventory is still low, so if you can't find the right home it's ok. Use this time to look at houses and really narrow in on what you need from your future home. Even creating a list of wants versus needs can be a big help.
While these are certainly unprecedented times, it doesn't mean that you need to give up on your dreams of homeownership. There is a lot of misinformation circulating about the housing markets. Make sure that you connect with a reliable, local resource when you are ready to purchase a home. Here at The Jennifer Hollister Group, we are more than happy to answer any housing questions you might have and to help you on the path to becoming a homeowner.