How 2020 Impacted The Real Estate Market

Hardly can you find a person who will say that 2020 was their best year. 2020 was a year full of tears, difficulties, and health issues. Nothing good can be said about that year.  Almost all industries have been affected by COVID-19. However, a real estate agency called The Jennifer Queen Team didn’t experience these difficulties. The realtors from this agency thought that they will face many issues because wages and jobs being lost. However, they were really wrong! For The Jennifer Queen Team, 2020 was one of the strongest markets so far.

Now you may wonder how this happened when almost everybody suffered from COVID-19 and people didn’t have enough money as they didn’t work like before. After all, job cuts and restrictions meant less opportunities, but in fact, this is not what happened in reality. Thanks to job security, people could save a lot of money because they stopped travelling, didn’t go to any entertainment areas, and interest rates hit low like never before. So we can say that the demand was really high while the supply not. While buyers were eager to buy new homes, sellers were hesitant because of the uncertain time. Not everybody had a desire to let strangers into their home. So the demand was high but there was a lack of supply. As a result, prices turned to be higher because of such demands. Thus, we can say COVID-19 left a great impact on the real estate market.

However, it was not just the market that changed. Buyers also changed their desires and started to look for other things. We can say that COVID-19 turned our daily life upside down, and these restrictions were quite strange for us. We woke up to this global pandemic where all shops were closed, restaurants were closed, gyms didn’t work, Schools and universities didn’t work, and so on. Thus, we spent 99% of our time at home. That is why people’s needs and desires in homes changed along with such a lifestyle. The biggest changes occurred in the following areas. Let’s explore some of them:

Home Offices

As people spent much time at home, they started working from home. So, home offices became trendy and they have been on the top of buyers’ wish list since then. That being said, buyers are interested in searching for houses with an extra bedroom to set up their laptops like in the office, or a finished basement in order to work from home comfortably.

Large Yards & Pools

People are not used to spending their free time at home. The need for going to parks has been increased since the last year. So this pandemic made people look for larger outdoor spaces. As people travel less, they spend much time in their yard, so that is why they aim to make these yards their own heaven. In Manitoba, there is winter in 7 months of the year, so having a private pool has never been a necessity for people. Besides, most of Manitobans own secondary vacation properties, like a cottage. However, the global pandemic and especially travel restrictions have made people look for houses with pools.

More Space In General

Naturally, it is hard to spend all your hours with the same people. This doesn’t mean you don’t love them or you prefer remaining alone. It is just that spending more time at home can make the home feel so tight and even stressed. So that is why there was a high demand of a house with more space in 2020.

Home Gyms

During COVID-19 we have done almost anything: watching films, cooking at home, zoom calling and more. So we do these things and become lazy day by day. That is where gyms can help us. In 2020, The Jennifer Queen Team had a high demand for homes with a gym.

Detached Homes

During COVID-19, the relators noticed a shift from properties to detached houses. After all, detached homes are more comfortable and amenities are more to be enough for the whole family.

As you see, The Jennifer Queen Team has had a number of clients with different needs and COVID-19 didn’t make any change in the process of buying. These experts, however, understand that the pandemic is not over, so there can be many more challenges. That is why they aim to assist people no matter how high sales prices are and how interest rates rise. The Jennifer Queen Team is ready for challenges, so whenever you want to buy a house at a low interest rate then let this team guide you.

Hundreds of people have already got help from The Jennifer Queen Team and today this agency is a popular choice. Look no further than The Jennifer Queen Team because you will always have a hassle-free experience. Also consdiered to be a reliable Charleswood real estate agency, this company ensures to cover your demands from beginning to end. Charleswood has all the best amenities for you to lead a comfortable and stress-free life. Here you can find different types of family-friendly parks and green spaces making it a great place for all nature lovers. Whether you are a nature enthusiast or jogger, Charleswood real estate agency will offer you a great option and will match your demands. This area is also full of many types of stores, boutiques and family-friendly eateries, and more.

The Jennifer Queen Team is also a reliable Royalwood Real Estate agency. Here almost 97% of the houses are owner-occupied. There are different bungalows, two-storey layouts, condos and other types of houses. Condos can include townhouse style homes as well as apartment-style complexes. Just let this team know your desires and they will certainly find you the most suitable house for sale. With this Royalwood Real Estate agency, you can have peace of mind that these specialists will take care of all needs you have. Never hesitate to call them and discuss more details.