Housing Market Review: In the Thick of COVID-19
The following charts are ShowingTime’s Impact of COVID-9 to Real Estate Showings in Wisconsin & in North America. They reflect the physical activity of our market compared to that of the entire United States, this year compared to last. April was a hard hit month for the whole nation. The month of May seems to be off to a good start for both, but overall Wisconsin is trending more active than the overall country,right now.
Our low-point so far in this COVID-19 pandemic, appears to be April. The Metro-Milwaukee MLS (Multiple Listing Service) just released their monthly report: Market Reports: April 2020. The numbers don’t lie. In Walwoth County, new listings were down by 50.2%, and there were 30.6% less homes sold in April of 2020 compared to last year. The median sales price went up 9.4%, and days on market went down by 6%; however, that doesn’t make up for the lack of inventory and closings. April’s inactivity is reflective of the worldwide shutdown, no doubt.
I started out with the showingtime data because it is hopeful. The Safer at Home order was reversed by our supreme court here in Wisconsin, so businesses are opening back up for the first time in months. There are a handful of precautions in effect in real estate, from COVID-19 consent forms to gloves and masks. While I feel tense and anxious, I can only concentrate on my own actions. I will continue to work safely, and follow the CDC guidelines on how to protect yourself and simply trust others do the same.
What if April 2020 is as bad as our market gets?
Stay positive, stay healthy & reach out! ❤ , Annie Z.
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