Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year.
Strong buyer activity has continued into the fall, which is normally the start of the seasonal slowing of the housing market.
In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months.
With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning.
Even as hopes of a phased June reopening all but faded, real estate activity continued to strengthen.
Mortgage rates are hovering near all-time lows, spurring strong interest in buyers.
April’s median sales price was up 8.9% compared to April of last year.
Sales were up compared to last year – a welcome and reassuring direction in a low supply marketplace.
April 2, 2020
Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment. While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.
Information provided by Freddie Mac.