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May 2020, SWMI Housing Market - Sales Down 61% & Selling Prices Dropped 9%

“The housing market in May suffered the worst from the economic lockdown from March through May. House sales fell to the lowest level since 2006. Selling prices also dropped. May is normally the month the peak selling season starts. Since our market has been robust for the last three years, we are expecting this to be a temporary disruption of home sales.,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

Read more: May 2020, SWMI Housing Market - Sales Down 61% & Selling Prices Dropped 9%

April 2020, SWMI Housing Market - Sales Down 35% & Selling Prices Record-Breaking

“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