Ok, so homes sales fell by 17.8% last moths, as compared to March. BUT, the good news is that prices went up by 7.8%, hence even though the sales were slower the priuceds remained robust. SO, don’t believe the hype about homes not selling.
4.33 million homes sold last month as compared to 21019 where 5.23 million homes sold, again a decline of 17.2%. The lockdowns we had in March and April obviously disrupted the showings of homes, but the homes that were on the market were still attracting buyers. See, when I told you don’t take your home off the market–this is the reason why.
Now that there are RECORD LOW mortgage rates, I don’t see a downside coming on for home sellers in the future. We still have a problem though, there’s still a shortage of homes on the market, we’ll either have to get more homes listed or more homes built.
Again SELLERS, let’s get those homes on the market!