Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak – and subsequent stay-at-home orders – has led many people to reconsider whether to buy or sell real estate right now. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.
Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. Economists expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season.
But given safety concerns and the current economic climate, is it prudent to jump back into the real estate market?