The spring market was on track to be very active and then everything changed. COVID-19 has impacted every sector of the economy including the real estate sector.
As the above graph shows sales began to drop in early March and new listings followed two weeks latter. What happens next will depend on several factors not the least being how long the economy is held down in order to fight the outbreak.
Let’s all do our part. Stay safe!
*Note: March 29-April 4 sales will be higher (15%+/-) as more sales are reported. No accurate data available for units Sold April 5-11. Sales data typically has 2-3 week lag is reporting as buyers conduct an inspection, obtain financing, etc.