2nd Quarter 2020 Housing NEWS REPORT! Santa Fe, NM
Q2 2020 While much of the country was working on a phased reopening of the economy in June, real estate activit continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notable from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. New Listings decreased 28.1 percent for Single Family and 40.7 percent for Townhouse/Condo. Pending Sales decreased 9.7 percent for Single Family and 16.8 percent for Townhouse/Condo. Inventor decreased 41.0 percent for Single Famil and 37.9 percent for Townhouse/Condo. Median Sales Price increased 4.7 percent to $445,000 for Single Famil but decreased 2.2 percent to $271,000 for Townhouse/Condo. Das on Market decreased 19.0 percent for Single Famil but increased 52.9 percent for Townhouse/Condo. Months Suppl of Inventor decreased 38.6 percent for Single Family and 37.8 percent for Townhouse/Condo. While buer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Man housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.
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BY SFAR SantaFe Association of Realtors Source