Homebuyers should expect to be in a multiple-offer situation.
In May, during the pandemic, there were about three offers on each home that sold, up from about two offers in April, according to the May 2020 REALTORS® Confidence Index Survey. The report is based on a survey of more than 4,000 REALTORS®, conducted June 1-10, about their monthly transactions.
REALTORS® reported a higher number of buyer offers, client tours, and listings in May as states began to reopen.
The report also showed a rising number of in-person home tours in May. Forty-five percent of REALTORS® surveyed also reported conducting virtual tours and showings.
Overall, REALTORS® are optimistic about the next three months and expect to see a pickup in business. Forty-three percent of REALTORS® surveyed say they expect stronger buyer traffic in the next three months. That is up significantly from April, when only 25% of REALTORS® said they expected stronger buyer traffic on the horizon.
REALTORS® surveyed also are mostly optimistic about the direction of home prices. They predict home prices to remain stable or increase over the next three months.
Source: National Association of Realtors, Realtor Magazine.
Ready to Buy or Sell in Bucks County?
Before you list your home for sale, call the John McClintock Team at 267‑759‑9518 for no obligation recommendations on pricing and an overview of our comprehensive marketing package that includes, home staging, brokers' open house, virtual tour, video tour and social media sharing.