New Home Listings In April Cut In Half.
As stay-at-home orders increased across the nation last month, it translated into a lack of homes for sale.
New listings fell 44.1% in April, asking prices flattened and homes are staying on the market longer, according to a new report from realtor.com.
As the report says, the Northeast was hit hardest by the pandemic and also saw the greatest decline in new listings – a whopping 59.4%. The rest of the U.S. didn’t stray too far off, as the Midwest saw another 49.5% decline, a 44.1% decline in the West and a 31.4% decline in the south.
This makes the total number of homes for sale across the U.S. down 15.3% year over year, with April’s drop in inventory amounting to a 189,000 loss of listings compared to this time last year.
According to realtor.com, within the 50 largest U.S. metros, inventory declined 16% year over year with the biggest declines seen in the Milwaukee-Waukesha-West Allis, Wisconsin metro (down 46.1%); Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland metro (down 38.7%); and Providence-Warwick, Rhode Island-Massachusetts metro (down 29.3%).
For specific information contact Ed Bertha at (941) 921.2117 or EdBertha@DiscoverSuncoastHomes.com
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