According to the National Association of Realtors, sales of previously owned homes significantly fell to the lowest pace since the beginning of the pandemic. Re/Max New Horizons Real Estate Agency experienced an evident change in the housing market since the start of COVID-19.
“Pre–COVID, we were a solid little market. We serviced a four county area; Alpena, Alcona, Presque, Montmorency, and we had a nice assortment of listings. I mean the market isn’t nearly what it is right now. Right now, it’s just a feeding frenzy,” said Sharon Houston, associate broker at Re/Max New Horizons Real Estate Agency.
COVID–19 created an uncertain time for the real estate industry. “When COVID came none of us knew as realtors what the market was going to do. We were home; we were hidden like everybody else. When it came, we saw a surge of people; we were discovered, especially from other states,” said Houston.
People from different states viewed Alpena as a top destination for housing. “I’ve never seen a market like this in 32 years, it’s super competitive,” said Houston. “Most homes are bidding wars. We put a time frame on them.”
Due to the fast pace of housing occupancy, many homes will be remodeled in the future. “I see many houses being rehabbed. New construction is quite expensive now. The builders that I know and that I work with are all booked up, most of them up to two years,” said Sharon.