At the end of April, Colorado lifted restrictions on home showings, and buyer demand has bounced back, according to the Colorado Association of Realtors. But now Realtors and homebuyers must deal with the aftermath of the restrictions. Though Colorado’s housing markets are not in as bad shape as people feared, the Denver Post reports that the coronavirus definitely hurt that month’s business as buyers and sellers worried about their health and jobs. Home sales and listings tanked in April, but home prices remained stable. Now, Realtors are hoping that the increased demand and lifted restrictions will translate into an uptick in sales.
Stay-at-home orders dealt a heavy blow to home sales across the state in April, but they didn’t knock the market off its feet, according to a monthly update from the Colorado Association of Realtors.
Open houses were not permitted and in-person visits were limited until the final walk-through, which made marketing homes difficult. Concerned about their health and job losses, sellers and buyers alike pulled back.
Yet, contracts were closed on 7,590 residences across the state, with minimal discounting, and 6,761 properties were put under contract. And once showings were allowed again at the end of April, buyers came back out.
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