COVID-19 has dramatically impacted the real estate market mainly by causing substantially fewer sellers to list their homes for sale. In fact, the number of homes that were listed in April 2020 is down by over 50% compared to April 2019. Below are some graphs that show the initial decrease in various market activities and then their recovery on a weekly basis.
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Last Updated: 6/01/2020 – 1:02 PM
HOMES LISTED PER WEEK
As illustrated below, the number of homes listed for sale per week dropped in March after the stay at home advisory was enacted.
IMPACT OF COVID-19 TO REAL ESTATE SHOWINGS
HOMES PENDING PER WEEK
The number of homes placed under agreement (contracts accepted) dropped in the second week of March, when normally at that time pendings are increasing. The decline lasted until the second week of April, but in the past two weeks has gained steam.
HOMES SOLD PER WEEK
The graph below illustrates the number of homes sold per week.
AVERAGE SELLING PRICE PER MONTH
Prices for homes in 2020 are substantially higher than in previous years.
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