Certainly the COVID lockdown has had an impact on our real estate market. However, there is good news on the horizon.
First, inventor remains below normal. Last year in May we had an inventory of 5700 units; today we only have 3896. Get that house ready for the market today while inventory remains low.
Second, closed units were down in April overall. However, the number of closed units has risen each week in April, closing over 800 units for the month.
Third, the best news: At the Keyfinders Team we focus on current consumer behavior. Those are the properties going pending/under contract. For the last two weeks, the number of properties going under contract has EXCEEDED last year ... by over 40 units. This means consumers are back ...
Which is also evidenced by the last graphic which shows showing activity ... up 12% over the same period last year. Let's be encouraged by these numbers and trust they will continue to rise in May.
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