As the COVID-19 vaccines are becoming available to almost everyone across the country, things are beginning to change.
Initially it began with the option to not wear masks among those who had been vaccinated in small groups. Then the mask requirements began to get less restrictive.
The new plan is to soon be able to go grocery stores without a mask. Employees are slowly going back into offices. Public areas are changing, becoming more accessible.
Those who have received both their doses of the vaccine are feeling more comfortable, less worried.
What does this all mean for real estate? Does it mean commercial real estate values will go up? Does it mean employees will have to choose to work from home while others are required to go in. Will offices remain not fully occupied? Will companies re-evaluate their office space needs?
Will the need to for a bigger home subside if people are not always confined in their homes anymore?
There are so many questions we could be asking about the future of real estate and the effects the vaccine and a “normal life” will have on it.
The one thing we know for certain, is that the home shortage across the country will not be solved by the vaccine because it was not caused by the pandemic.
As long as the number of homes is lower than the population looking to buy them the real estate market will continue to see boom like price increases.
Hopefully, as construction goes up (with less covid-19 restrictions) then over the next few years more homes will be available on the market. This may cause a correction in the prices; however, the chances of a real estate market crash are extremely low.
Do you have more questions and concerns? We are certain you do, and we are always here as Amin Vali Real Estate Investment to answer them for you.