COVID-19 is upon us and the population is quarantined at home. However, it seems that many are feeling that now is the time to find a new home. Customers are taking advantage of online research tools and non-traditional ways of buying and selling property. Interest rates continue to remain low, making this a great time to buy. Kalen Ludwig Real Estate Specialists are practicing social distancing and helping customers in unique ways to keep up with the demand.
Single family home sales are up by 116 homes when comparing data from April 2020 (2279 homes) to that of April 2019 (2163 homes). New construction sales are up a total of 43 homes when compared to the same time frame last year. This is very encouraging all around!
A quick snapshot of the market shows there are 1915 active listings, with 758 of those being new construction. As of April 2020, there was a 2.5 month supply of properties, in contrast to a 2.7 month supply in April 2019. Pending sales came in at 1594 total with new construction counting for 27% of pending sales.
When looking at the numbers, it is obvious that COVID-19 isn’t stopping people from buying houses!