In talking to my dad yesterday, he reflected that it seemed like the drop off in real estate activity had not been drastic. I agreed.
We have seen somewhat of a decline in real estate activity (buyers buying, sellers selling) but it has not been nearly as significant as I thought it would be a few months ago when COVID-19 started having more of an impact on our daily lives.
I've been taking a look at cumulative buyer activity each week for the past month or so to see how local market dynamics are changing. As shown above...
- On April 1, buyer activity for 2020 was 3.5% stronger than 2019.
- As of yesterday, buyer activity for 2020 was 5.3% slower than 2019.
So, yes, buyer activity has dropped off a bit in 2020 - but it has not been drastic.
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