(Summer drone shot of Lake Ann in Chanhassen, photo credit: Lennar)COVID-19 IMPACT
Home showings down nearly 12% in Twin Cities in March Compared to 2019
The stats are showing us, that at least for the time being, the negative effects on real estate is marginal (11.8% less activity year over year) most likely due to historic low mortgage rates, a strong sellers market and pent-up buyer demand. Additionally, most real estate experts predict there will be more listings coming to meet the high buyer demand as the "stay at home" orders are lifted in later spring.
In March of 2020 we are down 11% in the number of showing compared to March of 2019. Here is the link from Showingtime (be sure to select Minnesota from the drop down) with the data:>>IMPACT of COVID-19 on REAL ESTATE SHOWINGS<<
4 Things to Note:
- I haven't seen any lower prices up to this point.
- Most homes are still selling within a few weeks of being on the market.
- I am watching it all, and will keep you informed every week.
- My hope for you and your family is to stay healthy and safe!
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