The Impact of COVID-19 on Houston Residential Real Estate as of April 15

This is some great real time data newly made available from HAR. The impact of COVID-19 on residential activity in Houston up until now has been difficult to identify numerically until now, but as we are starting to see, COVID-19 is having a HUGE impact on several indicators that will eventually show up in pricing further down the road. As you will see, new listings are down 28% for the past 3 weeks versus the same period in 2019, pending listings are down 37%, and appointments are down 49%. We should expect to see the impact of these drastic changes in buyer and seller behavior in the coming weeks as the homes that should have gone under contract in late March and early April would typically sell 30-45 days later, or approximately May 1-15. This data will not begin to present until HAR releases May data in mid-June. We will continue to publish relevant information as it becomes available.

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