We always (I mean, always!) see more contract activity in the spring than the summer. More buyers contract to buy homes between March and May than between June and August. Always. For sure. Definitely.
But not in 2020.
Over the past three years we have seen a 15% - 18% decline in contract activity when comparing summer to spring - but this year contract activity INCREASED 32% when comparing summer to spring!
This certainly had a lot to do with COVID-19. Plenty of buyers and sellers were feeling a bit uncertain this spring, which slowed down the pace of sales in our real estate market. But -- everything came roaring back this summer!
Who knows what fall will look like this year in our local real estate market, but summer was certainly unusual! Yes, and I suppose spring was as well. :-)
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