The full effect of shelter-in-place restrictions hit the housing market hard in May. The overall number of house sales fell 30 percent compared to May 2019 in Cass County (42 vs. 60). Sales of waterfront houses took the biggest hit, plummeting 79 percent. (5 vs.24). Non-waterfront home sales showed a small gain of 3 percent with one additional house sale (37 vs.36).
Read more: May 2020, The Housing Market in Cass County & SWMI
“The full effects of Stay-At-Home and REALTORS not being able to show or list houses during the month of April took a toll on the SWMI housing market. The number of houses sold, and the total dollar volume of sales dropped 35 and 34 percent, respectively,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.
“After five years of steady gains in the number of houses sold in April above 224 houses, this past month, there were only 194 houses sold. In April 2019, there were 297 houses sold, which was the peak year in our year-over-year comparison back to 2006,” Jeffries continued.
Read more: April 2020, SWMI Housing Market - Sales Down 35% & Selling Prices Record-Breaking