Home » World News » New home listings plunged in April, one of real estate's busiest months: Realtor.com
New home listings plunged in April, one of real estate's busiest months: Realtor.com
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New home listings dropped 44.1% in April, one of the busiest months in the real estate industry, according to data from Realtor.com.
The decrease in home listings highlights seller decisions to halt sales and see how market conditions play out as coronavirus stay-at-home orders have led 30 million Americans to lose their jobs, crippling the U.S. economy.
"The good momentum we saw at the start of the year has helped to somewhat insulate the housing market from the coronavirus' negative impact on buyer and seller confidence across the U.S.," Reator.com Chief Economist Danielle Hale said in a statement. "Although we saw sharp drops in new listings, an increase in the time it takes to sell a home and a flattening of prices in April, May is likely to see some of these metrics worsen."