Report: COVID-19 pushed the bulk of home-buying to the summer months

Photo by Toni Cuenca on Unsplash

HousingWire | Julia Falcon

Rather than a typically busy spring home-buying season, the COVID-19 pandemic pushed the bulk of home-buying this year into the summer months, and real estate agents are busier than ever.

According to the National Association of Realtors, contract signings kicked off strong in August, with the most contract signings last week in the Midwest, at 21%. The South followed, at 20%; the Northeast at 13%; but the West actually declined, by 4%.

As new contract signings are outpacing new listings due to low inventory, properties sold typically within 26 days in the four weeks leading up to August 2, NAR said.

Read the story here: When it comes to home sales, August is the new May, keeping agents busy into the fall