How badly did Covid-19 hit the real estate market?
Great question. A question we have been asked a lot lately. The investors/bottom feeders come out of the wood work when they smell a little blood in the water.
It is still too early to forecast what impact Covid-19 has had on the real estate market. I do have some good news to report. Below are three charts displaying showing volume for North America, New York and Florida.
Naturally, with the quarantine, there are just going to be fewer real estate showings. The above chart displays the showings across North America for the Showing Time service. They handle quite a few of the showing appointments for real estate brokers. Not all real estate brokers use this service so it does not display all showings. However, they do have a good sample size for statistical purposes.
New York is the epicenter for Covid-19 so I am not surprised the real estate showings have fallen off the cliff. This is probably as low as it can get. Take a look below at how well Florida is doing compared to New York.
Look how much Florida has bounced back in terms of showings. Showings are a good indicator of buyer demand. Since the state of Florida has recently opened up I can only imagine that these numbers will continue to improve. DWELL Real Estate services mostly Sarasota, Manatee and Pinellas counties and I am pleased to say that our agents have been busy with showings on our listings as well as our buyers. Of course, we aren't as busy as last year at this time due to Covid-19, but activity is increasing daily.
I hope this information is helpful. If you have questions please feel free to contact us.