May 2020 Market Update
May turned out to be a very lucrative month for the real estate market. In fact, in some regards, we were more robust than 2019, which is a positive outlook considering that we are still in the thick of a pandemic. Yes, numbers are still lower than we would like to see -- however, the fed has done everything in its power to propel the market forward until states are able to open up completely.
This has created a rare opportunity of very low interest -- on top of a shortage of inventory. So those who're able to advantage of a unique time in our real estate history are finding some fantastic deals. Subsequently -- the lack of homes means that sellers are seeing a smaller DOM (days on market) window -- even though the average DOM is creping higher than last year.
Projections for the remaining two quarters of 2020 are looking positive. While we may not experience a complete rebound -- it's likely that we will see a solid real estate market primed for new sellers and buyers.