May brought higher sales than in April as we started to move out of the COVID-19 isolation. That said, sales and the number of new listings were down for May 2019. The average home prices dipped year over year in large part due to the reduced sample size and the reduction of higher priced home sales.
What will June look like? We've seen an increase in both buyer and seller activity as we got more active post lockdown. This reflected a growing interest in qualified buyers and provided opportunities for motivated sellers. However, don't expect us to return to normal levels until the key elements of the economic impact of the recent job losses are fully realized.