Hot real estate stats during the pandemic? FROM APRIL 2020
By Ryan Lundquist
Excerpts: I can see the headlines now. “Prices rose despite the coronavirus,” or “The housing market shows strength in March despite the pandemic.” But let’s step back and think critically about glowing stats from March and what they really tell us. I hope this will be helpful. Any thoughts?
Five good comments
#3. 3) What to watch right now: If you want to see the current market, watch what is happening in the listings and pendings rather than recent sales in March. Are listings moving or sitting? Are we seeing more price reductions? Are properties spending less or more time on the market? What is the sentiment among buyers and sellers? Who is gaining or losing power? Has there been a change to the number of listings and pendings? Do sellers have to give more credits to buyers? Are contracts getting bid up? Are contracts falling apart more often? We need to ask these questions in every neighborhood and price range. My advice? Look to neighborhood stats and let the numbers inform your narrative about what is happening in the market.
Go to the end to see his last comment.
To see the other 4 comments, click here
Covid-19 Residential Appraisers Tips on Staying Safe
Appraiser Covid Survey Results April 2020
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
To read more of this long blog post, click Read More Below!!