Strange times, but excellent for internet memes. Now that we’re into May and gradually coming out of lockdown, I figured it would be a good time to look into the results of that lockdown. As previously reported, many homes went pending daily and new listings were still going up, though not as fast as they were going pending.
April 2020 was the heart of the pandemic. We saw inventory decrease, though not necessarily from cancelled listings, the amount of homes selling decrease, and yet prices are still going up and about 10% higher than last year at this time. April seemed to be more of a pause than an actual drop.
As the county and state begin to open further, I expect listings, sales, volume, & pricing to continue to increase from life changes, pent up demand, & changes due to the result of reflecting during the down time. We are already starting to see this now in the marketplace.
If you are looking for an expert to help you navigate the ever changing real estate market, I know a guy!