Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Friday, July 24, 2020
How did COVID-19 affect our local housing market?
So far, this is what we're seeing...
- Contract activity started declining in March/April until the 2020 cumulative (year-to-date) number of contracts signed had fallen behind the 2019 pace as of April 18.
- The gap widened through the rest of April and May, but in June, the gap started closing again -- and by June 19, there had been just as many signed contracts in 2020 as compared to 2019.
- And ever since that time, the gap has become wider and wider -- with the pace of 2020 contract activity being further and further ahead of where things were a year ago.
Now, there have been 6% more contracts signed in 2020 than in 2019!
There are still plenty of ways that COVID-19 could affect our local housing market, but we're not seeing any significantly harmful impacts to date.
