Strome Business Minute With Dr. Jeff Tanner

Amazon and Netflix may be big winners in the economic crisis, but other businesses have done surprisingly well. One such local business is Garrett Realty Partners, a residential real estate agency that enjoyed the strongest month in sales in its twelve year history in April, a record broken in May. When the pandemic hit, the company decided to operate safely but fully, without layoffs. As a result, they were able to capitalize on a robust local housing market, setting astonishing sales records. Across the state, home sales declined during the month of April but at a lower rate than expected. Here in the 7 5 7, April home sales actually increased. New listings are down more than twenty eight percent across the Commonwealth and the lack of supply is driving prices up. To learn more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.