While the total number of houses was about 14 percent less than anticipated due to the pandemic, overall, franchises’ average sale price for houses was over ten percent more than the previous year’s average sale price.
“We never stopped buying houses, and nobody knew what the impact on real estate would be in March. But, a funny thing happened—March and April were some of our best-selling months,” said David Hicks, CEO of HomeVestors.
“Franchises were quickly listing properties to avoid them not selling in the case of a crash, and those houses sold for top dollar. Across the network they discovered that there was no fear of selling because the people buying in our part of the market are always looking. And, as soon as a market trend or behavior becomes even the slightest bit predictable…