COVID-19

COVID led to real estate boom in southwest Michigan

Home sales have shot up as people look for more space to self-isolate in.

It’s a bad time for the economy, but there is at least one bright spot. Southwest Michigan’s real estate market has seen its best sales numbers in years.

Home sales in November are 35% higher than they were a year ago, according to an article on WWMT. And that boom could continue well into the spring.

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Realtors point to a couple of reasons for the increase in home sales. First, people stuck at home during the pandemic have found themselves wishing they had more space to live in.

“They found out during the pandemic their home wasn’t as large as they’d like,” said Mike Barber, a real estate agent in St. Joseph. He said his November sales have increased by 40% since last year.

Second, interest rates are at a historical low as the federal reserve seeks to keep cash moving through the economy.

You can read the full story here.

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