Market Update For Week Ending April 11, 2020
This week’s initial jobless claims report from the Department of Labor showed another 6.6 million workers filed last week and revised the prior week’s claims up by 219,000 to nearly 6.9 million. Millions of additional initial jobless claims are likely to be reported in the next few weeks as the full impact of shelter-in-place policies becomes apparent. Meanwhile, Freddie Mac reported that the average 30-year fixed-rate mortgages rate remained flat at 3.33% this week, down from an average of 4.12% a year ago.
SINGLE FAMILY
For the week ending April 4:
- New Listings decreased 19.8% to 288
- Pending Sales increased 4.7% to 266
- Inventory decreased 18.9% to 2,595
For the month of March:
- Median Sales Price increased 12.0% to $215,000
- Days on Market decreased 26.5% to 50
- Pct of List Price Rec’d increased 0.3% to 98.3%
- Months Supply decreased 24.1% to 2.2
TOWNHOUSE/CONDO
For the week ending April 4:
- New Listings decreased 63.2% to 7
- Pending Sales decreased 50.0% to 6
- Inventory decreased 24.1% to 101
For the month of March:
- Median Sales Price decreased 4.9% to $150,000
- Days on Market decreased 21.4% to 33
- Pct of List Price Rec’d increased 2.8% to 99.7%
- Months Supply decreased 41.9% to 1.8
