The Drop Off In Real Estate Activity Has Not Been Drastic
Scott P. Rogers
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.
