March 2020

As COVID-19’s impact spread across the country in March, the stock

market declines started in February accelerated downward before

recovering a bit in the last week of the month. With volatility across all the

financial markets, lenders began tightening underwriting standards and

some buyers found they no longer were approved for a loan. Massive

layoffs also shook the economy with 3.28 million initial jobless claims filed

in a single week—the highest in history more than four times over.

New Listings decreased 27.6 percent for Single Family homes and 23.9

percent for Townhouse-Condo homes. Pending Sales decreased 57.1

percent for Single Family homes and 59.0 percent for Townhouse-Condo

homes. Inventory decreased 36.6 percent for Single Family homes and 29.2

percent for Townhouse-Condo homes.

We prepared a full market report for download. 

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