Home Real Estate Is this the beginning of real estate’s ‘Roaring ’20s’?

Is this the beginning of real estate’s ‘Roaring ’20s’?

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Saying that COVID-19 has changed our world might just qualify you for the “understatement hall of fame.” The ways in which people communicate, live, work and play are radically different today than they were just over a year ago.

Virtually every type of business, educational and social platform now operates on a paradigm that has evolved since the onset of the pandemic.  Real estate is no exception. While segments of the commercial real estate market are attempting to regroup from closed businesses and abandoned office spaces, the residential real estate market has skyrocketed. The migration away from crowded urban areas toward open, suburban locales has reduced housing inventory and sent home prices soaring to new heights.

Are these changes here to stay?

According to Rob Norman, president of Coldwell Banker New Jersey, some new trends may be with us for the foreseeable future.

“The market is extremely hot…

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