While businesses are getting ready to slowly re-open, the housing market is already in full recovery as showings are up and buyers are determined to find a new place to call home.
We have been tracking home sales during the pandemic on a weekly basis since March. You can see details on my Coronavirus Resource Page.
Live Showings Reach Highest Level of this Year
Listing views saw a spike on most real estate websites when the governor issued the stay-at-home order. Live showing requests, however, dropped by almost 30% at the end of March.
This has changed dramatically in April. Last week live showings were 2.9% higher than before the Covid-19 pandemic shuttered our economy.
Buyers are out in full force despite of social distancing, face mask mandates, and basically NO open houses.
Preliminary April Housing Stats Look Great
Preliminary April housing data confirm a post-pandemic rebound.
After the initial shock caused by the lockdown, real estate has partially recovered in April. While lagging indicators, like Closed Sales, dropped by 19% in April, Pending Contracts (a leading indicator) are 3% higher than during the same month last year.
Most importantly for sellers, the average sales price has increased by 4%.
It appears that home sales have been pushed back by a couple of months, and we expect a booming summer market.
Do you want to participate in the early stages of the recovery?
Now is the right time to get ready to buy or sell! Call me before the competition gets fierce!
If you’ve been thinking about buying or selling DO NOT DELAY! Call or text me TODAY at (614) 975-9650.