As we head into the second half of 2020 we are starting to see the makings of a housing market recovery. There was a steep dive down in closed sales in April and May, but a quick snap back in June.
Nationally, sales are down year-to-date but they were up 21% from May to June, the largest month-over-month increase ever recorded by the National Association of Realtors. Matthew Gardner, Windermere’s Chief Economist and sought after expert across the nation, just released his updated 2020 housing market forecast and believes that sales will be down year-over-year, but that prices will be up.
Eight out of the last nine weeks of pending sales in King and Snohomish counties have outperformed the pending sales for the same weeks in 2019. Historically low interest rates are driving demand, as well as many people making big lifestyle moves due to remote working, the Millennials expanding their families, and Baby Boomers retiring.
If you would like additional information or if you’re curious how the market relates to your lifestyle and bottom line, please reach out. It is my goal to help keep my clients informed and empower strong decisions.
On July 18th our office managed to pull off our annual paper shredding event. We were able to follow the proper protocols and made it a no-contact event. Guests stayed in their cars and we unloaded their trunks and sent them safely on their way. It was a relief to be able to provide this service, as it has been a long-time tradition that provides a meaningful service.
Even better is we equally billed the event this year as a food drive. The results were heartwarming, outstanding, and successful. The generosity of our guests was overwhelming and impressive! Mike from Concern For Neighbors Food Bank was thrilled when he walked in and saw all the food piled up. He mentioned that actual food donations are very low this year due to the pandemic and that this would help greatly over the coming weeks. In addition to the 2,123 lbs of food we also collected $4,122 dollars! Mike and his team will use those funds to purchase food to provide to the community in need over the next several weeks.
If you’d like to donate, please visit their website (above) to see their COVID-19 schedule and how you can help.