As states reopen, homebuyers rush back out. but sellers are staying on sidelines

  • For the week ended May 2, total listings were down 19% annually, and new listings were down 39%, according to realtor.com.
  • “We’ve had buyers ready, willing and able, and the sellers have been the ones who have pulled their homes, changed their minds,” said Ben Hirsh, real estate agent for an Atlanta home.

The number of for-sale listings plummeted in April, as both buyers and sellers dropped out of the market as a result of the pandemic. For the week ended May 2, total listings were down 19% annually, and new listings were down 39%, according to realtor.com.

“We’ve had buyers ready, willing and able, and the sellers have been the ones who have pulled their homes, changed their minds,” said Ben Hirsh, real estate agent for the Atlanta home. “It’s probably a bigger hurdle to get over, to put your home on the market and invite people in than it is to go look at homes as a buyer.”

Hirsh said he had two sellers in the last week who were about to list their homes, fully photographed, ready to go, and then they just decided to stay put.

“I don’t see the lack of inventory, which was already an issue before this happened, I certainly don’t see that loosening up anytime soon,” he added.

read more at: https://www.cnbc.com/2020/05/11/coronavirus-as-states-reopen-homebuyers-rush-back-out.html

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