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.
Home prices increased at the largest pace in almost six years in December, helped by a dramatic decline in homes on the market in California.