How has COVID changed the way you view your home? 

Do you still see it as a family space or has work infiltrated more aspects than you care to admit?

Do you possibly need multiple home offices?

Do the kids have their space for living plus school work beyond what homework would normally entail?

These are just a few examples of the questions today’s families are asking themselves as they assess their day-to-day living needs.

Life has changed, this much we all can agree on. Almost every aspect of our daily lives has been altered to some extent. From lack of hugs and handshakes to the barista handing you your beverage in a container, nearly everything is different in some way.

So, once a family has made the decision to navigate the home buying highway, all of the above and more has been evaluated. Families that were convinced they were going to live where they are until the children graduated high school and college are considering selling due to ever-changing needs over the past year. 

And the process feels different right now. One family at a time in the home for viewing. Appointments are required at new home models as opposed to dropping by and walking in unannounced. Moreover, appointments are the norm in almost every facet of the process today. 

In a way, this may be a good thing. Perhaps it separates the curious from the serious. I work in the Houston and Orange County, CA markets simultaneously. There are stark differences between the two. In SoCal, proof of funds, a pre-approval with the seller’s trusted lender (resales too), a signed health form (PEAD) for all visitors to the property, and assigned/confirmed appointment times are standard in today’s strong seller’s market. If you don’t follow the rules your offer may not be considered. 

One SoCal community I follow, Ladera Ranch, has 8,500 total households. Today, there are 9 total homes on the market. This would equate to only 45 homes being available in all of The Woodlands, TX. Wow!

I do not see Houston’s market as being on the same level regarding the scarcity of available inventory. This is another good thing when compared to a very hectic Austin, TX market where a home will hit the market for $375,000 and close at $485,000 with multiple offers. 

How does that happen? How did the agent misprice the home so badly? I am not sure they did. The level of demand there is unprecedented and very difficult to navigate. Imagine being a new home builder and trying to forecast your lumber and concrete costs in that type of market. Challenging would be an understatement. 

So, there are COVID Rules hitting sellers of all types as well. Each market is different but operating under similar circumstances. Add all of this up and you have eager and stressed buyers and sellers plus a strained supply chain on the new construction front. 

Patience will be a virtue for all involved.