Housing Activity Still Going Strong
Despite the economic downturn and disruptions from the COVID pandemic, the NWMLS market has shown impressive improvement from April to May!
New listings from single family homes and condos rose 29.2% and pending sales jumped for than 44%.
Year over year comparisons showed sharp declines. New listings fell 33%, pending sales declined 13.5% and closed sale prices dropped about 35%. With low inventory being available prices have gone up about 2.3% from this time last year.
600,000 or less are continuing to see multiple offer scenarios and going pending within a few days of going on the market.
Brokers, buyers and sellers seem to be adjusting to the new restrictions which is helping the market go strong through this pandemic!
Historically low interest rates continue to give more buying power and lack of inventory is raising prices.
My two cents; there are still a lot of changes going on in the market, be sure to be in contact with your lender for any changes that could affect your purchasing power. Seller’s it is still important to have your home shown in the best light and an advocate on your side to help negotiate! Overpriced homes still aren’t selling…
Many buyers are looking or to move further out, wanting more outdoor space, walking trails close by or a home office. Have you felt your home suits your needs or our these things now important to you?