The election has come-and-gone, and the market didn’t miss a beat. We had a bit of quiet the first and second weeks of November, but nothing like it had been in previous years. Looking ahead, pending sales are up considerably from 2019, telling us that it will be a very busy November. December is normally among the quietest months in the year, but since when is anything in 2020 normal? It’s unlikely the market will scrape anywhere near the bottom that April and May were. After all, it’s really hard to sell real estate when you’re not able to leave your house.
It’s been a wild year thus far for property appreciation. Many ‘experts’ we worried the shutdown would lead to a collapse in prices, but it’s done the opposite. Bear in mind, average sales prices in DFW from October 2020 as compared to October 2019 were up 13%, but that doesn’t mean your property is suddenly worth 13% more. You have to figure in what area you live in (real estate is local) which varies wildly. MLS area 19 (my home town of Sunnyvale) is up an astonishing 43% (but again, if you live in Sunnyvale your home isn’t necessarily 43% more valuable than last year), while area 47 (Delta County) figured out how to drop 39%. My point being, ask me if you are curious what your neighborhood is doing.
By the time you’re reading this, we’re past Thanksgiving. In all honesty, it’s been a tough one. I’m blessed to have Kacie – in fact I don’t deserve her – but being without the rest of our families has been hard. I do hope you were able to spend yours with loved ones. When you’re younger you think there will never be an end to the number of holidays you’ll celebrate. As time goes on, you realize that’s just not the case. Everything is temporary.