TUPELO, Miss. (WTVA) - A real estate agent with Coldwell Banker said that the price of homes has gone up since the coronavirus pandemic began.
Managing Broker Gena Nolan said that because of the lack of people willing to sell their homes, it has turned into a 'sellers market'.
"Several people were looking for homes before this hit and there was still a shortage of homes so this is not anything new," said Nolan.
The broker said that there are around 600 homes currently on the market which is lower then usual.
"The rates are so great right now that the people who are wanting to buy are all looking at the same house to come on the market," said Nolan. "So when it does a lot of people converge."
Nolan believes that the reason behind this is becasue the sellere may not have a home to buy.
"It is not just because of the virus, its because where am i going to go," said Nolan. "If I put my home on the market, am I going to be able to find a place."
Coldwell Banker has sold around 300 homes since the virus began back in mid March.