YUMA, Ariz. (KYMA, KECY) - The drop in the economy hasn’t stopped buyers from investing in new property.
Nabile Paredes, designated broker at The Realty Agency in Yuma says the market is still up, just as it was before the pandemic began.
"Because the buyer pool hasn't diminished, buyers are still out there for multiple reasons, interest rate is very low which means regardless of what the prices are they're still going to have an attainable payment," said Paredes.
Paredes says the agency expected a fallout and was prepared in case the market crashed.
"I think that was everyone's fear but it wasn't and hasn't been the case," said Paredes.
Real estate agents had to make adjustments to maintain social distancing. Agents had to get creative by holding open houses virtually.
Not only has the market stayed active, Paredes says the month of April was a record-breaking month for The Realty Agency.
The market does, however, change day by day and there could be a shift in the future.