“At the beginning of COVID-19, no one truly knew what to expect; however, the second quarter numbers show that COVID-19 has had the reverse impact that many sellers and buyers anticipated. The shortage of inventory has caused an even tighter demand for housing thus driving up prices. In Rutherford County, I am seeing a huge push towards buyers opting to go with new construction, with builders saying they have never been this busy and build costs are increasing, which will affect pricing and standard features. I anticipate prices to go up. There was already a tight supply of homes available as investors/hedge funds purchasing over the last few years have taken away from the available supply. Housing demands should increase as sellers reanalyze what home now means. Bigger yards for gardening and pools, as well as office space for working from home or homeschooling, will now be key factors in purchasing.”
—TERRY CARTER
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