Despite the pandemic, according to a newly released report from the National Association of REALTORS®. 35% of REALTORS® reported no delays to closings in a snapshot survey conducted on April 26 & 27.
Interest rates continue to encourage buyers and despite a huge increase in unemployment claims, many potential buyers are still working and see opportunities in the market
Inventory is still low compared to previous years so we need more sellers to jump in. In the area I monitor in Monterey County, we are about 20% behind last year at this time.
A NAR survey conducted April 12 and 13 showed a quarter of REALTORS® had clients go into escrows on homes that week without even physically seeing the property.
Virtual tours online are becoming the "new normal" and agents are conducting private video showings via ZOOM, Facetime etc...
Home prices seem to be holding with no huge price declines at this time
It's an unusual time but we are all figuring out ways to adapt.
Source: National Association of Realtors Magazine