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I-Team: Low real estate inventory due to COVID-19

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HAZLETON, LUZERNE COUNTY (WBRE/WYOU-TV) — Looking to buy or sell a home? Local real estate experts say it could be a challenge due to the affects of the pandemic.

Ken Temborski is owner of Aggressive Realty in Conygham. He has 20 years of experience in buying and selling homes in northeastern Pennsylvania, specifically in Luzerne County.

“Inventory is very low. We have seen a massive influx from the city because people want space with COVID. What we normally have about 1,800 homes on the market in the area Luzerne County Board. Today we have 373 right now,” said Temborski.

Temborski says when the COVID-19 pandemic hit in March of 2020, it was “go time” for many realtors.

“So the listing season was… It was hard. That being, the most property listed in those three months,” Temborski said.

Chris and Katrina just entered the real estate market.

They are quite surprised by what they are hearing and seeing when it comes to what some people are calling the new “COVID realty reality.”

“I noticed a lot of the value what I was looking for were very high which is hard to do,” said Chris.

“It makes everything more challening not being able to meet face to face. The pricing I heard… The market acutally went up,” said Katrina.

Temborski advises anyone looking to buy a home, if you see something you like and it fits into your budget, don’t waste any time in making an offer.

“You’re writing offers at the house, you’re racing to get it to the multi-list agent so you can get in first. It used to be you wait a little bit and think about it. Now you can’t. People are paying over asking price. They don’t want to lose it,” Temborski said.

Temborski says he expects it will take until the end of this year for the real estate market to return to what it once was, depending of course on where the nation and the region stands regarding the COVID-19 pandemic.

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