We are now two months into the beginning of the financial impacts of the 2020 Pandemic. Unemployment has spiked to levels not seen in more than half a century and some states (including Colorado) are finding ways to safely get back to work. Real estate sales were down 30% in April and we will see large decreases (compared to past years) in the coming months. Showings were again allowed starting in early May and we are seeing some activity return to the market. But, like the economy in general, it will not be a straight- line recovery. I’m carefully watching showing activity and contracts written to see if buyers are coming back to the market. I’m seeing more activity in the lower price ranges and not as much in the luxury range.
After scrolling through eight slides below you will have a much better understanding of where the market is in terms of showing activity, new listings, inventory and other measures of the market. As always, please feel free to contact me directly if you have questions.
