This week, we zoom out a bit to see how real estate has behaved since the last week of March (when the impact of COVID started):
Let’s look at the number of condos for sale and pending since the last week of March:
The number of condos has almost doubled, but the demand (the number of pending condos) has stayed relatively flat.
The number of available houses for sale is up 25% (compared to 100% for condos), and the demand is rising at about an equal pace.
Just The Facts:
The total number of available homes continues to rise, with demand for both houses and condos declining this week.