Coronavirus Impact On Real Estate

Coronavirus Impact On Real Estate Sales

Coronavirus impact on real estate sales in ways we could not have imagined just six months ago. At DIGGS, our most important goal is the health and safety of our clients, our team and our community.

Here are some of the coronavirus impacts on real estate in Glendale and Pasadena for the first three weeks of April 2020

1. New listings are down 40% – 60%
2. New contracts are down 60% – 80%
3. Closings are down 30% – 68%
4. In March 2020 the months supply of inventory is up by 22% in Glendale, and a whopping 182% in Pasadena!
5. Home prices do not seem to be impacted. Yet.
6. While it is possible to show vacant listings, the number of showings is a tiny fraction of previous activity.
7. Some homeowners are requiring an accepted offer from a qualified buyer prior to allowing an appointment to view the home.

Coronavirus Impact On Real Estate Sales Process

This is a fast-moving situation and DIGGS is at the cutting edge of safe and effective “Touchless Marketing”.  We’ve rebuilt our entire process from the ground up to provide the safest virtual buying and selling experience.