Showings continue to be strong, 18.8% ahead of the same time last year… interesting to see how closely it follows last year’s trajectory.
New, pending and coming soon listings are holding steady. The end of August and beginning of September is usually a time when the real estate market relaxes as people enjoy the last days of summer at the lake, getting ready for school, and the State Fair. It will be interesting to see how our altered reality this year affects the real estate market.
The real estate market continues to defy expectations… with mortgage applications 33% higher than last year. Pent-up demand has made August the new April as we appear to be on the upswing of a “V-shaped recovery”, with national sales about 10% higher annually than last year.
“Housing’s resiliency against the pandemic is remarkable” – National Association of Realtors Chief Economist Lawrence Yun
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
