Pending Home Sales See Record Decline in April ’20
According to the National Association of Realtors (NAR) nationwide pending home sales took a large drop in April 2020, down by 21.8% as compared to March and more than 33% year-over-year. This marks the single largest decline since NAR began tracking contract-signing activity in 2001.
Single family home pending inventory levels in Florida were even steeper with a decline of 35.1% as compared to April 2019.
The following year-over-year single family home pending inventory declines were reports by the Florida Association of Realtors and Broward, Palm Beaches & St. Lucie Realtors.
Featured Counties in Florida
- Broward County – 38.8%
- Duval County – 21.3%
- Hillsborough County – 24.6%
- Miami-Dade County – 30.4%
- Orange County – 35.1%
- Palm Beach County – 37.2%
- Pinellas County – 38.6%
Featured Cities in South Florida
- Boca Raton – 66%
- Coral Springs – 52.2%
- Fort Lauderdale – 60.1%
- Jupiter – 76%
- Palm Beach 92.9%
- Plantation – 44.4%
- Stuart – 67.9%
- West Palm Beach – 58.1%
Although it may take a few months to rebound, buyer activity has substantially increased over the last several weeks as counties and states have reopened. While social distancing practices continue to take place during the home search process, consumers are feeling more comfortable reentering the marketplace.
Learn More About the Real Estate Market
To learn more about the residential and commercial real estate market throughout South Florida, please visit the Real Estate Market Reports page on our web site.
Every month our market report page is updated with the latest published reports on the housing market in Palm Beach, Martin, Broward, and Miami-Dade counties as well as commercial real estate information which is provided by data providers and local market experts.
For All Your Real Estate Needs
Chris and Amy Losquadro remain ready to serve our clients and partners through this trying time. We are able to assist with all of your real estate needs through video conferencing, remote showings, virtual marketing and many other additional tools that allow us to safely conduct business within the CDC guidelines.
If your clients, colleagues or friends are concerned about their real estate holdings, now is the time to contact us to discuss the particular situation and how best to mitigate any upcoming economic uncertainty. We continue to successfully complete transactions and are here for you during this time of need.
Contact us at 561.584.8555 or via email at firstname.lastname@example.org.
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