BROADCASTS.com

It’s headline news for residential real estate. The National Association of Realtors is reporting a mammoth 44.3% increase in pending home sales for the month of May. That’s after a decline during the previous two months when the pandemic was at its peak. Economists see this as a sign of a “V-shaped” recovery that could help lead the economy out of the current recession.

 

The market for existing homes was pretty much at a standstill for two months. Sellers didn’t want to list their homes out of fear of the selling process -- that buyers touring homes would bring germs. Stay-at-home orders also kept the number of buyers to a minimum, especially those who wanted to see a home in person before they signed on the dotted line.