Real estate sales are a lagging economic indicator. It takes weeks or months for sales to feel the effects of shifts in other areas of the economy. That said, it is currently impossible to predict how the current environment surrounding the COVID-19 crisis is going to change our local housing market. However, we can comment on what as happened so far and we will continue to update statistics over the coming weeks to keep everyone informed as to what is going on.
As you’ll note in the charts below, it’s too early for the real estate market to react to what has happened in the past week. It is also subject to significant change as the Government’s response to this crisis evolves on a daily basis.
Number of New Listings
New listings in…