While many industries suffer an adverse impact of COVID-19, the local housing market isn’t taking as big of a hit, the Flathead Beacon reported.
In fact, the real estate industry is still going strong, which is a great sign for buyers who can enjoy lower interest rates. Wendy Brown, who works as a realtor for Chuck Olson Real Estate in Kalispell, said the company has seen 57 homes close in the last month - as of Friday, April 24.
She told the paper: “We’re running out of inventory very quickly.”
Erica Wirtala of the Northwest Montana Association of Realtors confirmed that buyers have the advantage. She also told the Beacon, “Because interest rates are so good, it’s a terrific time to buy a house. Banks are going crazy (and so are) private lenders.”
The real estate industry has also found a way to adapt to the changes and hold many of its meetings virtually.
Wirtala added, according to the report: “Virus or not, life keeps going. People still need to downsize homes or upsize; people are moving in and out of the area. There will always be a need for real estate transactions.”
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