As we have been able to understand, the Coronavirus emergency is now worldwide, causing a fall in the USA too. Today we have decided to analyse the situation in the United States of America. How is the real estate landscape in the United States evolving? What are the most obvious effects ? To answer this question, we have created this mini-guide, so that you can find out about the situation in the United States and understand whether or not it is convenient to buy a property in this historical period.
So, if you are ready, we can start our column today !
Spring has always been the season in which interest is growing in all sectors. And real estate is no stranger to this trend. But this year things have changed. In fact, the season has seen a real free fall of the USA. Real estate lists fell in March, when the Coronavirus pandemic alert was issued. A situation diametrically opposed to what was expected at the beginning of the month. March, in fact, seemed to usher in a flourishing period in terms of buying and selling and the signing of lease contracts. A super competitive season that saw real estate shopping accelerated. New listings equal to 17.3% compared to the month of February. A considerable improvement, however, halted by this dramatic situation.
In order to fully understand the extent of this stagnation, it is necessary to make a comparison with the past.
In general, between 2018 and 2019 there was an average 50 % more announcements available than in the previous year. But, as you can imagine, this optimal trend was abruptly interrupted, reaching -37%.
As is obvious and obvious, the motivation behind this interruption is mainly the Coronavirus and a wait-and-see approach. Both by sellers and potential buyers. The former are hoping for an improvement in general market conditions in order to avoid a devaluation of the property. The latter, although this period is convenient enough for purchases, prefer to wait for a greater range of choice.
We now understand how and where the most significant slowdowns occurred:
The main cities are the following :
Detroit (-61.8%)
Pittsburgh (-55.5%)
New York (-49.1%)
Cities of great importance, which are influencing the general landscape of the United States of America, which is struggling with this serious emergency.
How will the situation evolve? Since we do not have any documentation that can ascertain an effective recovery, we hope that this situation can be brought to an end as soon as possible. In the meantime, we invite you to consult our Realigro portal as usual. Every day you will have all the news related to the world real estate, and in particular, the latest updates on Coronavirus and Real Estate.
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