One of the surprising outcomes of topsy-turvy 2020 was the housing boom. Despite a global pandemic due to COVID-19, which resulted in catastrophic results for jobs and businesses, the housing market thrived.
eXp Realty’s report, “2020 Housing Boom: Exponential Opportunity for the Real Estate Industry” looks at how the 2020 housing boom created an exponential opportunity for the real estate industry.
According to the report, housing prices surged to record highs driven by buyer demand and a shrinking supply as more Americans took advantage of rock-bottom interest rates and a work-from-anywhere mentality.
While other brokerages experienced difficulties conducting business during the pandemic, eXp Realty experienced rapid year-over-year agent growth, with a 53% increase in the number of agents globally as compared to 2019. Additionally, eXp nearly doubled its volume in closed transactions from 2019.
Read about housing’s surge and how eXp was able to thrive when others struggled.
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