An entire reporting month living with a pandemic lockdown.
The April market results have arrived. I have anxiously awaited their arrival, an entire reporting month living with a pandemic lockdown.
Any surprises? Not really save, I expected it to be worse.
Inventory and sales activity is down double digits when compared to the same period a year ago. The sales are flat compared to last month.
We don’t want a flattening of the curve.
“Flattening of the curve” is not desirable this time of the year. We would typically see and want a “U” shape forming in the charts.
Pricing is neutral, without much movement either way. Inventory levels are pushing pricing upwards, while demand has the opposite effect–a flat line in the final analysis.
Attracting buyers to view homes is a challenge with the state or counties applying their own rules. As an example, for some time, Sacramento County would not allow in-person visitation to for-sale properties that are occupied.
The state health department has recently issued additional guidelines concerning visitations. You will begin to see this placard on the front doors of homes for sale.
I suppose the charts that follow should be viewed as a curiosity. However, they represent the reality of today, but not mistaken for historical norms in the future.
What I gleaned from them is that the sky is not falling. The April market results show there is some life in our market. According to Realtor.com, the Sacramento market was the ninth hottest market in the U.S. for April 2020. A year ago, it also registered at number nine.
Enjoy the charts.
I welcome any questions or comments.