We experienced a quiet month of March in the real estate market, due to the unkowns and uncertainties brought on by the CoronaVirus. During this initial period, many prospective buyers (and sellers) moved to the sidelines to understand the potential effects. As the stock market skid took place, and the economy slowed, the month of March seemed to be the beginning of a real estate downturn.
But, that was short-lived, as the next 2 months of April and May has turned into a typical spring market mini-boom. New inventory is in short supply, mortgage rates are historically low, and with buyers more confidently re-entering the market, many houses are flying off the shelf!
This is indicative of buyer confidence in their employment and economic future, and also reminds us that we can't predict the future. How do you know when is the right time to make a move? Should you wait for the market to improve? The best time to make a move is.....NOW, taking advantage of the current information on market conditions.