Pace of New Home Sales in the U.S. Dropped Last Month
Pace of New Home Sales in the U S Dropped Last

With new listing activity and inventory levels having plummeted, and the pace of home sales having sharply dropped, the percentage of homes on the market in San Francisco with at least one official price cut – which doesn’t include properties that were withdrawn from the MLS and then re-listed with a lower “original” price – has jumped to nearly 25 percent.

That’s compared to only 13 percent at the same time last year but magnified by a mass withdrawal of listings from sellers who are in a position, at least currently, to wait the COVID-19 shutdown and market uncertainty out.

At the same time, we’re also seeing an uptick in listings with increased list prices as sellers and agents that were angling for a bidding war are changing tack.

Source link