Pent-up demand may have unleashed a new set of buyers, but some of the hardships and innovations from the early days of the pandemic remain. The Washington Post reports that home builders are still grappling with setbacks from new social distancing measures and manufacturing delays, and home buyers are dealing with the confusion with shifting prices and procedures. The virtual technology, video calls, and document faxing that made it possible to sell homes when open houses were banned in some states has become a standard offering. And as new waves of the pandemic emerge, these tools may become not just an option but a necessity once again.
Just this week, Margaret Griffin Cameron and her husband, Roy Cameron, closed on a new-build single-family house in a planned community in Raleigh, N.C.
The house first appraised below the sales price, but a reappraisal came in at the sales price.
Griffin Cameron speculates the slowdown in the real estate market from the coronavirus pandemic may have played a role in the first appraisal’s lower value.
Advertisement
Related Stories
Business Management
How 2023's Housing Market Conditions Are Affecting the 2024 Market
Last year ended on an optimistic note, but persistent headwinds still exist to keep 2024 from getting the housing market back to pre-pandemic levels
Business Management
How to Create a More Inclusive Workplace for Women in Construction
Consider these tips and techniques to attract and retain more women in your home building company and reap the benefits of a more diverse workforce
Business Management
AI in Home Building ... What Now? What Next?
Artificial intelligence is coming to home building. How can builders use AI in new-home construction? Start with this primer