DOTHAN, Ala. -- The price of just about everything has been going up for some time now.In some instances, there are increases in the tens of thousands of dollars.
Experts say some of the extreme changes we are seeing should stabilize, but the overall trend is upward.As we approach the two-year mark of the COVID-19 pandemic, we also near the time when the housing market skyrocketed. “The pandemic definitely kicked the real estate market into overdrive, and it hasn’t slowed down a single bit since,” said president and owner of Property Champions Real Estate Stephen Holland.
The biggest factor Holland says: “You had people spending more time in their house than ever before and so you had people coming up with ideas of maybe expanding out to a larger home or even downsizing to a smaller one.”“I don’t see anything going wrong with the Wiregrass market as far as real estate is concerned at all,” Holland said. “This market has stayed hot. We are growing as an area.”
Advice for those second guessing if now is the time to buy: “I’ve heard some people with concern say well, we want to wait until prices go down,” Holland finished. “Prices are not going to go down. If real estate prices start to go down long-term, then of course our economy is in a really bad shape.”Data shows U.S. house prices have grown 18.1% since September 2021.