As cities locked down while the COVID-19 outbreak began, many housing markets came to a standstill. But it was a short-lived one. As states and cities have begun to reopen, buyers have reemerged in some markets—in some cases growing their footprint from even a year prior.
Clever Real Estate recently examined national housing market trends to pinpoint which metro areas have seen the largest rebounds in buyer demand. The service’s Housing Demand Metric measures median days on the market, the percentage of active listings on the market for less than two weeks, and the contract ratio (pending sales to active listings).
Clever Real Estate found the following metros have seen the largest increases in demand:
- Albany, N.Y.
- Houston
- Harrisburg, Pa.
- Dallas-Fort Worth
- New Orleans
- Detroit
- Washington, D.C.
- Cleveland
- Nashville, Tenn.
- Philadelphia
View a breakdown of these 10 metros and others tracked to see how their rebound has fared so far.
Source: “Home Buyer Demand During COVID-19: Metros With the Best Rebounds and Worst Drop-Offs,” Clever Real Estate (July 14, 2020)
