Realtors discuss pandemic impacts on local housing market

JACKSON, Tenn. — With the COVID-19 pandemic impacting our lives, you may wonder, is it safe to buy a new house?

“Things have slowed down a little bit, for obvious reasons, people are still a little scared of what’s going on,” realtor Clay Fowler said.

Fowler, a realtor at Town and Country, said the pandemic hasn’t harmed the housing market in our area.

Although, realtors agree it has caused a slowed down in the listing of homes, leading to less inventory.

“With us not having much inventory on the market as we have in the past, the prices do tend to drive up some,” owner and managing broker for Crye-Leike Elite Chris Miller said.

“They’re a little bit leary of putting their houses on the market. They don’t want people coming in from another state that may have been exposed to the virus,” broker and owner at Remax Realty Source, Jodie Parrish said.

“On the flip side, with great interest rates for the buyers, they can even afford a higher priced house than they normally would,” Miller said.

Realtors say the interest rates depend on several factors.

“Some people are locking in on a 15-year note at 2.75, and sometimes they may go up to 3.3 or not over 4 percent. Those are fabulous rates,” Parrish said.

One major change, however, realtors are using more virtual tours of homes to help with social distancing, or wearing gloves and a mask during an in-person showing.

Despite the pandemic, realtors say they’re still working, and potential buyers shouldn’t worry.

“If you’re think it’s a good time to buy, it would definitely be a good time to still reach out to a lender,” Fowler said.

Realtors agree the pandemic hasn’t stopped many from shying away in purchasing a home.