Editor's note: Joyce Rey talks about the Beverly Hills, California real estate market performance in 2020 in this Q&A with Haute Residence.
How did the real estate market look in the beginning of 2020?
The forecast in January 2020 was very positive and we were anticipating a stellar year. It got rocky briefly in March/April due to COVID, but things have bounced back now.
Photo Credit: Jonathan Golden Photography
What, if any, changes did the pandemic have on prices? On inventory?
Inventory has been limited throughout the year. This has caused pressure on pricing. With increased demand in the luxury sector, prices have gone up. Nationwide, price increases are up approx. 5% year to date compared to 2019.
Photo Credit: Jonathan Golden Photography
Professionally, what have you learned in 2020?
I've learned to enjoy working from my beautiful home enviornment as opposed to being in the office. However, no matter where I'm working there's never enough hours in the day!
