After a brief drop-off at the beginning of stay-at-home orders, open house activity across the country has rebounded—reaching 2020 highs at the
beginning of June.
Open house activity allows us to gain insight into what we can expect the market will look like in the coming months, whereas sold or under contract activity reflects what has already occurred.
This data reflects a delayed spring market coupled with increased consumer confidence, most likely a result of record-low 30-year mortgage interest rates.
This means we can expect an uptick in motivated buyers and a heightened need for inventory throughout the summer months.
