Buyer demand is rebounding, but condo prices have fallen!
There's pent-up demand
Home sales were down in April and May, but more properties are going under contract now because there was pent up demand from buyers.
People are moving from different states because they don’t feel safe from the virus on public transportation, and they don't want to be stuck in buildings without balconies. They want yards and streets that aren’t crowded.
Home Sales hit a record setting rebound
Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound.
According to NAR, home sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June:
“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”
Buyers returning to the market is a great sign for the economy, as housing is still leading the way toward a recovery. If you’re ready to buy a home this year, let’s connect to make sure you have the best possible guide with you each step of the way.
Let me know which zip code you are interested in and I will send you newest listings and help you through the process until successfully closing your deals.
Call me any time.
786 241 6346
Nina Winiger Real Estate
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