- The CTMLS is now down 1% year to date (nearly flat) versus last year in ratified contracts – and last year was one of the best years ever in the CTMLS.
- Inventory is down more than the showing levels are (there is less to show)
- Many showings are happening outside of ShowingTime
- Due to safety concerns, buyers, sellers, and agents are vetting showings much more closely (buyers ruling properties out online, sellers are inquiring more about a buyers motivation and qualifications more than they did previously)
- Closed sales are a lagging indicator of the market behind ratified contracts. Closed sales tell you what home buyer sentiment looked like 30-60 days ago.
- Ratified contracts track current consumer sentiment much more closely than closed sales do.
(6) Inventory is critically low, -12% versus last year’s already too low level of listings.
- Unemployment is extremely high and this will eventually come home to roost.
- While restrictions are easing, we could face another business strangling shutdown if cases flare up again” Dave Sansom CFO/COO for Carolina One
Please do not hesitate to call or email with any real estate questions you may have during this time.