How has COVID-19 impacted the local Real Estate market is a question we’ve been hearing a lot lately from both Clients and Friends. In a nutshell...
- April 2020 home sales were down 66% from the norm.
- May 2020 home sales were down 44% from the norm.
- Prices are down 2% year over year & 0.4% month over month.
“The initial shock of COVID-19 and social distancing measures are starting to ease. This is bringing some buyers and sellers back to the market. However, this market continues to remain far from normal and prices are trending down," said CREB® chief economist Ann-Marie Lurie.
Our personal opinion is that the market has been less impacted thus far than many experts had feared. In addition, we are beginning to rebound from the initial impact of the pandemic.
Real Estate Questions? Don’t hesitate to hit us up - we’ve got the answers.
- April 2020 home sales were down 66% from the norm.
- May 2020 home sales were down 44% from the norm.
- Prices are down 2% year over year & 0.4% month over month.
“The initial shock of COVID-19 and social distancing measures are starting to ease. This is bringing some buyers and sellers back to the market. However, this market continues to remain far from normal and prices are trending down," said CREB® chief economist Ann-Marie Lurie.
Our personal opinion is that the market has been less impacted thus far than many experts had feared. In addition, we are beginning to rebound from the initial impact of the pandemic.
Real Estate Questions? Don’t hesitate to hit us up - we’ve got the answers.
