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Realtors Think Sales are Deferred, Not Lost
Thursday, April 9, 2020
Realtors don't expect the 2020 "spring
market" is going to happen, but they are optimistic there will be a
post-pandemic rebound driven by delayed demand. The National Association of
Realtors® (NAR) found, through an Economic Pulse Flash Survey, that 59 percent
of its members feel buyers are merely delaying home purchases for a few months
while a similar number (57 percent) said sellers are doing the same with listings. NAR Chief Economist
Lawrence Yun said, "Home sales will decline this spring season because of
unique economic and social consequences resulting from the coronavirus
outbreak, but much of the activity looks to reappear later in the year. Home
prices will remain stable because of a pandemic-induced reduction in inventory
coupled with less immediate concerns over foreclosures."
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