Is a Rebound in Home Sales Underway in the DMV?
Rachel Harclerode ● July 16, 2020
Realtor® and Associate Broker Eric Stewart recently discussed updates in the real estate market on 105.9FM WMAL. Check out the videos and descriptions below to hear what Eric says about surprise changes to the market!
Eric Stewart Discussing the Jump of Home Sales from April to May
A rebound in the home sales market is underway with pending home sales jumping 44% from April to May. Realtor Eric Stewart, host of the Eric Stewart Show here on WMAL, says the numbers are good news.
“We had a drop in the month of April, so May’s spike was in comparison to April’s drop, and therefore it really was more in line with a typical month of May. We would typically see the kind of sales in the month of May that we saw this May which was a wonderful surprise,” Eric says.
Eric Stewart Discussing the Real Estate Market During COVID-19
Spring is usually the busiest time for buying and selling homes but not this year.
“COVID caused a delay to the current spring market for 2020, so we are experiencing a spring market in the summer,” Eric says.
Realtor Eric Stewart, of the Eric Stewart Show on WMAL says in the DC Metro area pending home sales fell 24% for March to April, then they spiked 33% from April to May. “It really was more in line with a typical month of May,” and he says the median price reached an all-time high of $507k in our region in late April and early May.