A pandemic isn’t something that most of us have much experience with. Yet, we are in one. And the effects on the real estate market are very much in flux.
When the pandemic hit back in March, there was an understandable halt to real estate listings and sales. Through April and May, however, signs of hope began to emerge. The Columbia market appeared to begin to rebound, likely due to Forth Jackson, the nearby military base and state employment in the area.
Through the summer, the real estate market has appeared to be slow, but stable. A major unknown is the extent to which the pandemic will impact the number of students that return to on-campus classes. This, in turn, will affect the significant student rental market in Columbia.
Only time will tell how the real estate market adjusts to the “new normal.” But, it will be interesting to watch.