The Sea Shore Team of
Long and Foster Real Estate Market Report:
With coronavirus-related restrictions easing and the economy reopening, real estate activity has been trending in a positive direction. We at The Sea Shore Team, are cautiously optimistic about the future. While transactions have declined since March, they did not drop as much as many industry experts predicted.
Likewise, consumer confidence was expected to decline from April to May, however, it has rose month-over-month and we expect to see continued upward movement going forward, as businesses reopen.
The month of May has been very favorable, with increasing numbers of properties going under contract -HERE and a number of new listings-HERE have come on the market. However, the housing demand continues to outpace the supply, so with the sale property inventory at an extremely low level, we feel home prices, should remain stable, if not increase.
As Always, The Sea Shore Team of Long and Foster,
is here to assist with any of your Real Estate needs, and most importantly,
Stay Healthy and Safe!
Kyle Fasy, Ian Ciseck, Nick Preuhs, Sandy Hennis Franulovic and Susan Hennis Giordano