Best Time to Sell? When Competition is at an All-Time Low
LISTINGS IN BREVARD HAS FALLEN TO AN ALL-TIME LOW
BREVARD COUNTY, FLORIDA – While buyer activity is surging on the Space Coast, the number of listings has fallen to an all-time low.
In Brevard County, the number of active listings for single-family homes was down 13 percent in May of 2020 compared to May of 2019. However, the number of pending sales was up over 17 percent for the same time period.
In a recent survey of home sellers by Qualtrics, 87 percent of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession.
Of the respondents, 51 percent said they are seriously worried.
That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.
The latest Existing Home Sales Report published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in the U.S. last month.
NAR’s most recent Pending Sales Report (homes going into contract) surpassed last month’s number by over 44 percent, which far exceeded analysts’ projections of 15 percent.
ShowingTime reported that appointments to see homes (both virtually and in-person) have increased in every region of the country and are up 21.4 percent nationwide over the same time last year.
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