Blog > March 2020 Real Estate Market Update
The number of transactions declined in the second half of March. The market was very hot before the lockdown and it was a strong sellers market because there were a lot more buyers than sellers.
As of today, our inventory is still low compared to the past 12 months. Even though we are seeing fewer transactiosns for now because of the lockdown and the uncertainty of the entire situation with the coronavirus. I believe the market will bounce back as soon as the lockdown is over.
Unemployment is also a concern with people not being able to qualify for a loan, it is something to look out for not only for real estate sales also for the entire country economy and how fast everything will recover.
The current interest rates had dropped again it was 3.625% for 30 years conventional with 20% down payment.
If you have any questions about the market feel free to call us directly at 702-530-5844