As the economy reopened in June, home sales followed as the always important summer home-buying season got hot despite the ongoing uncertainty of the COVID pandemic.
The COVID-19 pandemic and subsequent shutdown of the economy continued to pound the housing market, with the largest annual drop in sales since November 2007.
COVID slammed the door on home sales in April, with the largest month-to-month drop in more than 40 years.
Home prices and sales soared in February, but as concerns about the economy and the health risks of COVID-19 spread, the solid market will struggle in the coming months.
Home listings plunged almost 27%, the largest decline in almost seven years. Few homes on the market helped boost prices vs. a year ago.