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.

Highlights are as follows:

• Existing single family home sales under $100,000 and over $1 million were down by more than 30%.
• Single family residential inventory levels have declined by approximately 20% as home sellers removed properties from the market.
• Median home prices across all housing types rose by 7.4% with gains shown in every region (98 straight months of year-over-year gains).
• Office and industrial transactions were off by 60% (year-over-year).
• Hotel sale transactions were virtually non-existent during April, down by 98%.
• Commercial property prices have risen by 6.5% year-over-year.