In the wake of COVID-19, home sales fell in every DC-area jurisdiction in April. The number of homes to go under contract dropped even more acutely, falling by the largest amount in a decade.
However, the market has been bouncing back. At the beginning of April, a considerable gap existed between the number of homes that went under contract this year compared to the same time last year. But recent pending sales have been on the rise, surpassing the 2019 total for the week ending May 25th.
Showing activity was significantly lower in April compared to the same month last year. But in May showing activity matched 2020 levels in the first half of the month and then shot up in the second half of the month, far surpassing showing activity in May 2019.
Home sellers who were planning on putting their homes on the market had decided to hold off. However, over the last month and a half, that has changed with new listing activity in the region outpacing 2019 levels each week.