Homebuyers Ready to Rumble in Reopened States, But Sellers Still Unsure
After months of really getting to know all the limitations of their current housing situation, potential homebuyers with the financial ability to buy are back on the prowl for a new house, according to CNBC. But sellers are not as eager. Open houses have returned in some of the states that are reopened, but local housing markets are still not back to normal as Realtor.com reports that listings fell 39 percent annually for the week ended May 2. Experts point to sellers being still unsure about inviting strangers into their home as being a factor in their reservations.
At a two-hour open house in Atlanta on Saturday, about a dozen mostly masked families toured the six-bedroom, six-bathroom, newly built home priced at just over $3 million. Noah Graubart and his wife were looking for something close to their children’s new elementary school.
“It seems like the number of houses on the market had kind of paused,” said Graubart, who toured the home with his wife and daughter. They were all wearing masks, as a precaution against the coronavirus, and pleased that the open house wasn’t exactly packed. “As long as it’s not crowded. I would have waited until other people came out.”
The number of for-sale listings plummeted in April, as both buyers and sellers dropped out of the market as a result of the pandemic. For the week ended May 2, total listings were down 19% annually, and new listings were down 39%, according to realtor.com.