Contracts soar 50% from the end of May
(Published on - 6/17/2020 2:16:50 PM)
March and April sank because of COVID-19. Things seem to be turning around because consumers began putting contracts on residental properties.Below is a snapshot of the market in the last week.
- Homes under contract, which can be seen as a forward-looking indicator of what the market may do showed there were 3,230 homes under contract on May 25, versus 4,846 the week ending June 15.
- The number of listed properties on the market also posted gains, with a 7.3 percent jump when compared to the week of June 8. (Excludes properties which have listing agreements, but are not to be shown.)
- Overall, closings this past week dipped 87.3 percent from 2019 numbers. The relatively low number of contracts currently correlates to a low number of contracts noted in April.
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