When Colorado shut down in March because of the COVID-19 pandemic, Brad Whitehouse, owner of RE/MAX Professionals, predicted little change for the state’s housing market.
Even if a lot of people decided to sell their homes, the market would continue to be a sellers’ market. “What we’ve seen in previous uncertain times is people pull out for a 35- to 40-day period, and then they get back into the market. We may see a slow second quarter, but then we’ll see a strong following quarter.”
He was right.
After a brief dip when real estate agents faced limits showing houses and some people pulled their homes off the market, Colorado’s real estate sales quickly rebounded. Homebuyers in metro Denver closed on 5,581 homes and condos in June while putting another 7,676 under contract, according to the Denver Metro Association of Realtors. June closures rose nearly 60 percent over May and were down only 4.1% from June 2019.
“For years we’ve had a massive influx of people relocating from out of state,” Whitehouse says. “We also see a significant number of Coloradans relocating to the Denver area. I don’t anticipate a shift in either of those trends.”
RELATED: See the rest of the Top Workplaces 2020 winners
He does anticipate technology will continue to be important in real estate. “It’s critical to provide a strong presence online, and that’s very difficult for a seller to do without a realtor. We provide that type of technology and service to help position the seller and give consumers a complete look at what’s available.”
As consumers have become more tech-savvy, they do more research online before they look at any houses.
“But they still need a full-time, trusted advocate who can help them navigate all of this information,” he says.
And that’s what RE/MAX Professionals offers with 450 licensed agents operating out of nine locations in the Denver metro area.
The company works to support the community by offering appreciation events and its annual Concert in the Park in Highlands Ranch. RE/MAX Professionals also operates the non-profit Professionals Miracles Foundation, which provides grants to help children in the Denver metro area who have been diagnosed with life-threatening illnesses, chronic medical conditions, or those who have been injured in accidents.
Despite the virus and economic upheaval it has caused, Whitehouse remains optimistic about Colorado’s future.
“We’re in a healthy position,” he says. “We could double our inventory and still be in a healthy position. There’s still lots of room to grow.”
Years named: 2
Source: Read Full Article