Looking back at 2020
By KRISTI BAILEY
As we all celebrated the coming of the new year, all signs pointed to it being a great year of smooth sailing for 2020. Nothing could have been further from the truth. So many things have changed, some good and some bad. After a rough second quarter, the housing market has recovered nicely and continues with positive gains. The uptick in closings means that buyers are still in the market for homes despite needing to make decisions faster about which home to purchase due to low inventory and rising competition. Our area remains increasingly attractive to consumers looking to relocate to our beautiful part of the country. With remote work being a part of our daily lives, we can expect to see buyers continue to change their home location preferences. While buyers’ needs have changed, the desire to have a safe and secure place to be able to work and play has become the driving force for so many.
As real estate professionals, we have learned to use technology in ways we never thought possible to help people find the perfect place to call home. As many of you have read this column over the past year, you watched the local real estate market led the charge to keep our economy moving forward. We have set records in the number and dollar volume of homes sold. Average sales prices are up, which are good for sellers and interest rates are at all-time lows, which is good for buyers.
As people, we have learned to appreciate the people in our lives and the time we get to spend together. More important than the numbers are the relationships. We have learned to appreciate the things we never thought we could. I never knew how happy I would be to attend an in-person meeting and see all those smiling faces even at a distance. I never knew I could be so inspired to help others until I drove to Second Harvest Food Bank to distribute food to so many affected by the events of this year. I never knew how much I could worry about my friends and family who have suffered through so much this year. This year has truly inspired me to put others before myself and be a better person.
The 2021 President of the Tennessee Association of REALTORS®, Alex Bynam, has charged us to move forward and think about others in 2021 with Benjamin Franklin’s quote that he asked himself every morning, “What good shall I do this day?” Every day the Lord gives us on this earth that we can show others His love is a good day. In Galatians 6:9, it also says, “Do not grow weary of doing good.” What can you do to help someone this year, this week, this day, this moment?
May the road rise up to meet you. May the wind be always at your back. May the sun shine warm upon your face; the rains fall soft upon your fields, and until we meet again, may God hold you in the palm of His hand.
NETAR is the voice for real estate in Northeast Tennessee. It’s the largest trade association in the Northeast Tennessee – Southwest Virginia region representing over 1,400 members and 100 affiliates involved in all aspects of the residential and commercial real estate industries. Pending sales, monthly Trends Reports, and the regional market analytics can be found on the NETAR websites at https://netar.us/voice-real-estate-northeast-tennessee .
NETAR is the voice for real estate in Northeast Tennessee. It is the largest trade association in the Northeast Tennessee, Southwest Virginia region, representing over 1,600+ members and 100+ business partners involved in all aspects of the residential and commercial real estate industries. Weekly market reports and information for both consumers and members are available on the NETAR website at https://netar.us