Monday Morning Coffee - Showings, Contracts - don't be Drunk
WILMINGTON NC - After several weeks of steady decline since the Covid 19 pandemic shutdowns began, you can see in the chart below we have likely found the bottom, with a week over week increase of in-person showings of 47% and a week over week increase in new executed contracts of 30%. Unfortunately, we are seeing new listings continue to flatline which will benefit the home sellers that are ready to go tremendously in the coming weeks and months.
ABSORPTION REPORTS
Wilmington home buyers continue to search homes online in record numbers. While in-person house showings are down, buyers who need to move are still buying homes. In some cases, we are still seeing multiple offers within hours of a property hitting the market. As the Wilmington area and the rest of the country opens back up and begins to travel there is no doubt we are going to see a massive influx of buyers from large cities who want to relocate for more space, lower taxes, and more home for the dollar.
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