This is a great question and one that I’ve been asked a lot over the past few months.
Shelter is a basic human need, and there will always be people who need to buy and sell.
But it’s definitely not business as usual, not quite yet.
While the buyer pool seemed to drop by approx 70% in the past few weeks, it seems to have come full circle. The warmer weather and spring feelings have brought SOME of the buyer's back.
Showings are up in massive amounts, up to 150% in some areas. Offers are up about the same. In fact I just helped clients try to purchase a property in Hamilton and there were 10 offers registered!
The market is no-where near normal yet. Listings are still down, and sales, while up from last month, are not in the same ballpark as February and before.
However, there are positive indicators all over the market. Things that are giving us hope that we will come out of this soon.
The message is this: It's not over yet, but keep your head up as it's slowly getting better!
Stay safe everyone!
-Piers
