GUILFORD COUNTY, N.C. — – Hundreds of homes were sold in July in Guilford County as it appears more people are deciding to either purchase or sell a home during the pandemic.
In fact, July was the most successful single month in 14 years after 825 homes were sold.
Justin and Jordan Williams, a Guilford County couple, made the decision to purchase and sell a home during the pandemic because of the timing.
“The extra time spent at home during the pandemic…working from home during the pandemic and having kids at home for two months straight, we saw the need for a bigger home and also saw the market around us in our area was demanding,” said Jordan Wiliams during a conference.
The coronavirus pandemic has been one of the many driving factors for more people signing at the closing table.
“It means the market is coming back as strong as ever,” said Ray Alexander, the 2020 President of the Greensboro Regional Realtors Association.
Alexander also credits very low-interest rates and pent up demand due to stay at home orders for the uptick in home buying and selling.
“So things that took months, weeks and even days now are taking hours, so sometimes your house can be sold in hours,” Alexander said. “Because of COVID, because of people losing their jobs or people moving in doctors or nurses, you know we worked with them two and three months ago,”
The housing market in Guilford County has seen a gradual uptick.
In July of 2010, only 340 homes were sold compared to last month’s more than 800. In Forsyth and Alamance, the number of homes sold during that same time period for the past two summers has remained steady.
“The market and how quickly things are going and how the process is much quicker. You’ve got to move quickly it seems like,” said Justin and Jordan Williams.
The current market that’s been described as unique is totally different from when they bought their home.
“You can sleep on it one night, but you’re not sleeping on it for multiple nights. You’re quickly making a decision,” said Justin and Jordan Williams.
The real estate industry typically sees more sellers and buyers in the springtime versus what’s happening now in the summer, and that’s because people are trying to get settled in before school starts
But since many are taking the virtual route, that’s not a consideration this year.