I usually start this with a greeting like "Happy Wednesday!" Today, that doesn't quite feel right. I am grieving for the people of our country and the pain we are suffering right now. Even so, I am hopeful we will rise above this and come out stronger and more unified ... not without time and perseverance.
One of the things that is bringing me sanity and solace during these turbulent times is working on house projects! Even for those of you who didn't just move into a new home, there is no better time to improve the quality of your experience in your home. You can accelerate the already aggressive appreciation rates in our market by focusing on the improvements with the greatest return.
Want a consultation for your specific project? Reach out to me, and we'll schedule to meet on Zoom or FaceTime!
A quick note on the market:
As states reopen, homebuyers rush back out, but sellers are staying on the sidelines.
Compass saw the average number of listings under contract hit a low on April 12, with a 40% dip from mid-March. However, the market rebounded quickly - by the end of April contracts were back up, 24% higher than before the national shutdown, and up 64% from the April 12 bottom. Read the full article here, courtesy of CNBC.
In Austin, we're seeing this trend as well. We have so much buyer demand that the number of pending homes has outpaced the number of active listings! With the trend of sellers holding out, this is going to push prices up as inventory continues to decrease.