COVID-19 and The Real Estate Market
Like many other businesses, Ferndale Realty is closely monitoring the health threat posed by the COVID 19 situation around the globe. Our thoughts and prayers are with those already personally affected by the virus.
Necessary steps have been taken to safeguard our real estate advisers and clients including limiting hours at our adviser hub, canceling our monthly sales meetings, and working remotely. We have had a number of tele-conference meetings this week and they have all gone very smoothly. We are ready, willing, and able to assist you with your real estate needs during this time.
The real estate market as of today does not appear to be affected by the situation, generally speaking. With the fed lowering interest rates last week and still a very low supply of housing stock in the Twin Cities metro area, things have seemed to be carrying on as usual this week. There are still a significant number of buyers looking to buy with a smaller amount of sellers looking to sell. This is true with both residential and commercial assets. Things can change of course, but we are hoping, as I know all Americans are, to get through this quickly.
America is strong, our economy is robust, and I am confident we will pull through this and come out stronger than ever.