Home prices are holding up and demand is strengthening, but new listings continue to drop as the coronavirus outbreak takes a toll on the economy, according to the latest market data. Plus, condos are getting hit the hardest.
Prices Are Showing Resilience
We reported last week that asking-price growth had stopped falling. Now, it’s actually increasing; the median asking price for listings of new homes was $307,000 for the week ending April 19, up 3% from the same period last year. That gain is inflated due to the Easter holiday timing in 2019, but it may come as a surprise