A Time of Reflection – 2020 In Review
Everyone knows that we will be talking about 2020 for years to come. This year has been a roller coaster of uncertainty, and it doesn’t matter who you are, you were affected in some way or another if you were physically present on this planet this year. What started out as a seemingly normal year, events took a turn after Mardi Gras that forced changes into our lives, many of which are still in place. Every business had to pivot and reinvent itself. Every one of us was called upon to count our blessings while watching so many others fight with very hard times.
COVID-19 began its odd course early in the year, but it didn’t begin to affect businesses until late March/Early April. While many businesses shuttered their windows for the last time, others were born of necessity to combat the pandemic. We watched our fearless healthcare workers march into harm’s way all spring, and then a super active hurricane season called for our emergency responders to step up and selflessly serve.
The real estate market in 2020 was a direct reflection of the state of our economy, with interest rates dropping to historic lows. This created a bit of a silver lining for lots of homebuyers and homeowners alike, creating opportunities to upgrade houses or refinance existing loans. Many people were forced to homeschool or at least revert to partially online working and school in 2020. This predictably caused people to reconsider the house they call “home” and determine if the house they chose maybe just 5 years ago was still a good fit for their family in a new world.
The highlights of 2020 were quick sales, great home values, and good profit margins for sellers. The tough breaks of this year included tightening of mortgage requirements due to job volatility and market uncertainty. While 2020 was a tough year to say the least, we are glad to say we made it through the end of the 4th quarter and we are looking forward to advances in disease medicine that will hopefully make 2021 more stable and safe for everyone.
