“The pandemic prompted a dramatic decline in listings going under contract across every major Compass region,” the report reads. “This was followed by an equally dramatic increase in these agreements after the region hit bottom.”
In each market, the bottom of the drop appears to have fallen in the March 31 to April 13 range, with most back to pre-pandemic levels or higher. Nationally, the report found that, on April 12, the average number of listings under contract reached bottom at 40 percent below the pre-shelter-in-place average, enacted in March.
Over the past few weeks, we’ve seen the number of homes going into contract trending upward in the majority of our markets. This is real-time market data on both a local and national level.
Here is the full report published on May 18, 2020.