Austin Spotlight - June 2020

Page 22

SHOULD YOU CONSIDER BUYING OR SELLING A HOME RIGHT NOW? Spring is traditionally one of the busiest times of the year for real estate. With the coronavirus outbreak and subsequent stay at home orders many individuals have put their plans to buy or sell on hold. April saw a 45% drop in new listings and a 15% drop in the number of homes sold compared to April 2019. Fortunately, as restrictions have eased, home sales have picked back up. Many economist expect a complete rebound in July, August and September, as fears about the pandemic subside. If all of the buyers who held out during the spring return to the market this could cause a large amount of pent-up demand. Given the current climate of the economy and potential safety


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