Real Estate

Pensacola region seeing ‘perfect storm’ in real estate market

If you don’t have an attractive offer, aren’t ready to go see a house the same day it hits the market and, in some cases, don’t add a personal touch with a photo of your baby or dog, you’ll likely have a hard time getting to the closing table in the Panhandle as the pandemic real estate boom intensifies.

The “perfect storm” of the pandemic making city-dwellers reevaluate their surroundings, interest rates at historic lows and remote work here to stay in many industries has led to a spike in real estate in Escambia and Santa Rosa counties that experts don’t expect to slow down any time soon.

The problem, though, is that there aren’t enough houses for sale to meet demand, which has caused bidding wars, quick decisions and lengthened the time between contract and closing as appraisers try to keep up with it all.

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