Currently Reading

How Are Home Prices Faring During the Pandemic?

Advertisement

How Are Home Prices Faring During the Pandemic?


May 28, 2020
By Andy Dean
For sale sign in front of house

With high unemployment and an unstable economy, many bargain hunters waited eagerly for deep discounts on  houses. To their disappointment, the median home list prices jumped 3.1 percent year over year last week, according to recent Realtor.com data. Low housing inventory kept prices from plummeting even as buyers retreated from the market. Though the decline in annual listings is slowing down, the total number of listings on the market is still 20 percent below last year. Now that demand is increasing, it appears home prices will continue to be stable. 

Those hoping the coronavirus-fueled recession will bring another round of bargain-basement real estate prices are likely out of luck.

Even with the pandemic raging, a battered economy, and the highest unemployment since the Great Depression, median home list prices still jumped up 3.1% year over year last week, according to the most recent realtor.com® data of the seven days ending May 23. That's about double the 1.5% annual rise from the previous week ending May 16.

Last week, home prices increased in about three-quarters, 77, of the largest U.S. metropolitan areas.

Read More
 

Related Stories

Sales

This Flat-Fee Brokerage Wants to Disrupt Denver’s Real Estate Market

Utah-based real estate brokerage, Homie, promises to have your back as a homie should. The company calls itself “disruptive” and wants to use…

Sales + Marketing Trends

Measuring Buyer Demand From Showing Appointments

Measuring buyer demand in a different way, the ShowingTime Showing Index compares the number of appointments made for virtual or in-person …

Design

What Features Prospective Buyers Focus on During Showings

What do homebuyers look at first when touring a prospective home? With the help of some eye-tracking spyglasses, there are actual hard facts that…

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.