
Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. Across the country in April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.1
Fortunately, as restrictions have eased, we've seen an uptick in market activity, most notably here in Michigan where real estate had been completely shut down. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season.2