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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, re􏰌flecting pent-up demand by􏰅 prospective home bu􏰅yers. New Listings decreased 28.1 percent for Single Famil􏰅y and 40.7 percent for Townhouse/Condo. Pending Sales decreased 9.7 percent for Single Famil􏰅y 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. Da􏰅s 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 bu􏰅er activity􏰅 continues to be robust, seller activit􏰅y continues to be a bit softer, with fewer homes being listed for sale than a 􏰅year ago. Man􏰅 housing ex􏰍perts 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 e􏰍xpected to be an active summer selling season.


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BY SFAR SantaFe Association of Realtors Source

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