First look at the single-family home sales through the end of July 2020:
In a nutshell- July Property sales were 2,231, down -2.1% from 2,279 in July of 2019 and -2.0% lower than the 2,276 sales last month.
July 2020 sales were at a mid-level compared to July of 2019 and 2018. July YTD sales of 12,358 are running -7.4% behind last year’s year-to-date sales of 13,344.
According to The National Association of Realtors® pending sales (sold but not closed) rose significantly in June.
Homebuyers and sellers are keeping agents busy. COVID concerns have been settled when it comes to showing and inspection homes. And as long as everybody in the process continues to bend over backward to meet changing public demands -real estate will remain active.
The problem with shortage of homes for sale continues to impact the buyer’s emotions and push prices higher.