When a consumer clicks the “Request Info” button on a ColoProperty.com® listing, that email request is sent to the Listing Agent.
Consumers expect an almost immediate response to questions they ask on the internet. In order to meet their expectations and keep your lead, we suggest you create an email filter so they are quickly brought to your attention.
How do you flag these email leads?
Create an email filter to flag these leads in your inbox. For example, the email below has been flagged with a star and has been labeled as a “Lead” in Gmail:
Every email program is different, but in order to create a filter look for the “Preferences”, “Settings”, or “Options” section.
ColoProperty.com® leads are From: email@ColoProperty.com.
Instructions for Gmail:
Click “Settings” (gear icon at top right).
Click “See All Settings” link.
Click “Filters and Blocked Addresses” tab.
Click “Create a new filter.”
Enter firstname.lastname@example.org in the “From” field.
Click “Create filter”.
Choose how you would like the email to be flagged. For instance, we selected “Apply the Label,” chose “New label,” and named our label “Lead.”
Your IRES subscription includes ListTrac reports, found under the “Reports” menu. ListTrac provides revealing statistics on listing reach. View various listings stats for Views, Inquiries, and Share. At your option, share the stats with clients weekly. As the managing broker, you can view office stats or view each agent’s individually.
ListTrac gives you an apples-to-apples comparison of listing traffic, leads, saved listings, shares, duration, viewing locations and MORE. Sites included are MySite, ColoProperty.com, and various IDX sites. If you don’t see your IDX vendor on the report, contact them to encourage their participation. In addition, automatically send the Seller Report to show your sellers how their online marketing is progressing.
You can access ListTrac from the IRESis Reports Menu. For complete information on ListTrac, please visit the IRESis Learning Center or give us a call!
July 2020 MLS Snapshot:
What Are Consumers Searching?
The $300k-$400k range is the most popular price range in July 2020 based on number of views.
The most popular bedroom count in July 2020 is 3 beds based on the number of views and leads generated.
Realtor® Marta Loachmin beat Jonathan Singer in a closely contested Democratic primary for District 2, winning the right to face Republican James Crowder in November. Considered to be a longshot by some observers, Loachmin raised far less in contributions, $7,145 as of late June. Singer, who raised $18,147 in the same time period. Loachmin received endorsements from the current commissioners although Singer was supported by other Democratic heavyweights.
Democrat Claire Levy, a former Colorado House legislator, will face Cinda Kochen for the District 1 seat. Neither candidate faced a primary opponent.
Council Begins Review of Climate Plan
On June 30 the City Council began its review of the Longmont Climate Action Report. The recommendations were drafted by a Climate Action Plan Task Force. The entire document is over 140 pages long, so the Council will continue its work again on July 7 to consider the section devoted to resiliency and land use.
One significant recommendation is to “improve” building codes to include energy conservation measures and promote renewable energy by Adopt and implement new codes and policies by 2022. In addition to adopting the 2021 building codes for residential and commercial buildings, the task force recommends new appendices.
The new appendices, if adopted, would require solar-ready wiring for rooftop or yard installations, car charging ready wiring in garages, energy star rated appliances and updated codes for electric heaters and water heaters. The goal of the appendices is to promote all-electric buildings.
The task force said contractors and builders would benefit the most because homes with these features command a higher price on the market. At the same time, the report indicated concern for the “additional complexities and requirements that may make homes less affordable for first time home buyers and disadvantaged community members.”
The Council did not discuss or debate the recommendations, but they had time to ask questions and receive clarification. Once the entire report has been presented, staff will ask the council for direction on how to proceed with the recommendations.
County Allows Open Houses With Unique Requirement
As of June 30, Larimer County is now allowing open house events. However, unlike other counties in Northern Colorado, each Realtor® planning to hold an open house in the county must submit an indoor request online form. The form only has to be submitted once. Here’s a link to the form: https://www.jotform.com/form/201706022336140
In filling out the form, use the advice provided by your company’s attorney and/or CAR’s legal counsel Scott Peterson to ensure safety. See more advice from Peterson, below.
Surprises in Larimer Commissioner Primary Races
In the Republican primary for District 2, Bob McCluskey decisively beat Jeff Jensen by over 6,400 votes. He will face Democrat Fort Collins City Councilmember Kristin Stephens in November. Stephens had no opposition from her party in the primary.
Jody Shadduck-McNally easily beat Myles Baker and Karen Stockley in her bid to be the Democratic candidate for District 3. In November She will face Republican Ben Aste (aka Uncle Benny), who bested former Fort Collins City Councilmember Aislinn Kottwitz by 8,211 votes.
FCBR and LBAR will conduct joint county commissioner candidates on July 28. The boards of both associations will then consider recommendations for endorsement, should the interviewing team decide to recommend supporting any of these candidates.
Primary Results Defy Conventional Wisdom
It was widely believed that the Weld County Council’s decision to appoint Kevin Ross to the vacant at-large commissioner seat would give him an advantage in the Republican primary. Instead, Colorado House legislator Perry Buck beat Ross decisively with 62 percent of the votes. In November, Buck with face Democrat Paul Echternacht.
Mike Freeman beat former Windsor Mayor Kristie Melendez to retain the right to run for the District 1 seat in November. Freeman will face off against Democrat John Shull, who had no primary opponent, in November.
Another House legislator, Lori Saine who represented House District 63, narrowly defeated Tommy Holton and Lynette Kilpatrick in the Republican primary. Libertarian Matthew Hess will be Saine’s only opponent in November.
Primary Races Featured Recognizable Name
Barbara Kirkmeyer, the term-limited Weld County Commissioner (District 3) beat Rupert Parchment in the Senate District 23 Republican primary. Vicki Marble who held SD 23 until term-limited this year, lost her bid to be the Republican candidate for House District 49 (formerly held by Perry Buck) to Mike Lynch.
Other incumbent legislators in our region such as Edie Hooton (SD 10), Joann Ginal (SD 14), Steve Fenberg (SD 17), Mary Young (HD 50), Hugh McKean (HD 51), Cathy Kipp (HD 52) and Jeni Arndt (HD 53) didn’t face primary opponents.
State Amends Order, Allows Open Houses
As of June 30, the State is allowing open houses with a multitude of requirements. In Scott Peterson’s latest Legal Bytes, he offered advice, which is summarized here: Scott referenced pages 6 and 7 of the amended order. Read the Eighth Amended Public Health Order 20-28. A maximum of 100 people is allowed at an “event,” but is challenging to meet all the requirements and have 100 people at an open house at one time. Peterson referenced the social distancing calculator (see the link, below) but advised he would focus on the maximum allowed for each room. Consider eliminating the use of restrooms especially the sinks and toilets. Leave the doors open, tape off sinks and bathrooms, etc. The requirements included in Appendix B for showings are still in effect. Face coverings, social distancing and gloves are still required. Eliminate or minimize mixing people especially at entrances and exits. Use directional signs. Ventilation must meet OSHA standards: https://bit.ly/2YQuz0X It is critical to keep a log with every attendee’s contact information and the date in case anyone tests positive for COVID and public health officials need to trace people who could be affected. Have a conversation with sellers and get their confirmation in writing that they authorize an open house. Broker open houses – the same rules apply. Social Distancing calculator: https://covid19.colorado.gov/safer-at-home/social-distancing-calculator-for-indoor-and-outdoor-events Colorado Safer at Home Guidance for Public Health Order 20-28 updated July 1, 2020 – field services: https://docs.google.com/document/d/1FcuKBB6XhmN5kCS9yJv5B3mzVaE0o7yxVWgUU5YxtxM/edit#
Congress Extends PPP
On Wednesday, July 1, the House of Representatives extended the SBA Paycheck Protection Program (PPP) through August 8, 2020 (the Senate passed the extension the day before). The program had previously expired on June 30, with more than $100 billion in funds still available for borrowers, and NAR strongly advocated for its extension in both the House and Senate. This extension means that new applicants will be accepted by SBA lenders until August 8 and allows the program to continue assisting small businesses and independent contractors while Congress works on the next COVID-19 relief package.
House Passes Infrastructure Bill
NAR sent a letter supporting H.R. 2, a wide-reaching infrastructure bill last week, with a number of NAR-supported provisions. This bill combines significant investment in surface transportation and mass transit, broadband access, water infrastructure, affordable housing, and other important provisions to make these systems more resilient and sustainable.
NAR supported traditional infrastructure issues such as significant increases in direct federal investments in surface transportation and mass transit systems; an extension of the Highway Trust Fund through October 1, 2025; incentives to encourage high-density, transit-oriented development; streamlining the costly federal permitting process while continuing to provide critical environmental protections; resources for communities to develop systems to better manage, utilize, and control their water, wastewater, and drinking water resources; and resources for communities to make their transportation and infrastructure systems more resilient and sustainable.
In addition, NAR supports a number of provisions related to affordable housing including: reform and modernization of the Low-Income Housing Tax Credit; private investment in community development and affordable housing through private activity bonds and the New Markets Tax Credit; and resources to preserve, protect, and expand affordable housing in rural communities.
Lastly, NAR supported expanded broadband, as well as energy efficiency measures to extend and expand the 179D Energy Efficient Commercial Building Deduction and Home Energy Savings Retrofit Rebate Program. The measure passed the House largely on a partisan basis. The Senate is expected to consider an infrastructure proposal later this summer, and NAR will work to see these provisions included.
FHFA Asked to Extend Comment Period
NAR joined a coalition of housing, finance, and consumer groups requesting an extension of the FHFA’s comment period on its proposed capital rule. The proposal was made public earlier this month with a 60-day comment period that began on July 1st. The rule is an update to a 2018 proposal by the agency.
The new proposal incorporates a number of significant changes that would meaningfully raise the level of capital the GSEs must hold above the 2018 proposal and makes it harder to structure the capital. As a result, these changes would have far-reaching impacts on the GSEs’ business models and their abilities to carry out their mission. NAR and the coalition have requested an additional 60 days for analysis and comment which would make the comment due by the end of October.
NAR Supports HUD Funding
NAR sent a letter to the Housing Appropriations Subcommittee for HUD’s FY2021 budget, requesting additional funding for fair housing and housing counseling. Specifically, NAR supports increases in Fair Housing Initiatives Program (FHIP) to support private nonprofit enforcement of the Fair Housing Act (the Act), the Fair Housing Assistance Program (FHAP) and increased salaries and expenses for HUD’s Office of Fair Housing and Equal Opportunity (FHEO), the primary federal office charged with the administration of the Act. We also support strong funding for HUD’s housing counseling program.
In January 2020, NAR launched its Fair Housing Action Plan (ACT!) in order to increase accountability, culture change, and training among the real estate profession. Increases in FHIP, FHAP and FHEO are consistent with this goal. In voicing its support for fair housing testing, NAR emphasizes that adequate funding must be made available to ensure testers are well trained, and adhere to the highest standards. Poorly-conducted tests unfairly tarnish our members and the reputations of the entire fair housing community.
The economic fallout of the COVID-19 pandemic threatens the housing situation of so many Americans. As forbearance measures end, many homeowners may be struggling with their repayment plans. Housing counseling could be an effective tool to help them stay in their homes after the pandemic. The House expects to finish work on the T-HUD budget bills before the August recess.
“From showing properties and closing deals to the rising popularity of virtual tours, the coronavirus crisis has forced the entire real estate industry to rethink in-person showings,’” said Lauren Hansen, CEO of IRES. “The industry is changing, but this offer eases the burden. As the first MLS in the country to provide free access to a Matterport Starter plan, we’re excited to provide no-risk, no-obligation free access to the groundbreaking platform to our subscribers, ultimately benefiting buyers, sellers and brokers alike.”
In Colorado, “safer-at-home” orders restrict showings and open houses, contributing to the rise in virtual property tours. With limited in-person showings, IRES recently added new search functionality to its MLS system and the public site, ColoProperty.com, to display listings with virtual tours, allowing tours to continue as safely as possible.
Matterport, the leading spatial data company focused on digitizing and indexing the built world, has developed an all-in-one 3D data platform that can be used to design, build, operate, promote and understand any space. When paired with a compatible camera or iPhone, the platform leverages a deep learning neural network to generate 3D virtual tours, schematic floor plans, and guided and video tours. The platform can be used to transform any space, including single-family homes, condos/townhomes, commercial spaces, office suites, industrial warehouses and more.
“Utilizing Matterport makes it quick and easy to create, customize, publish and maintain a digital twin of any space — large or small,” said Volkie Yelkovan, Director of Product Marketing at Matterport. “Users simply scan the space, then our AI platform creates a 3D digital twin and automates manual tasks to customize walk-throughs, photo galleries, Mattertags™ and more, driving increased efficiency across the entire industry.”
A recent Matterport survey revealed 82% of buyers and sellers would switch to a real estate agent offering 3D tours of listed properties, with Millennial and Generation Z respondents overwhelmingly in favor of more immersive listings. With Matterport 3D digital twins, sellers who are reluctant to have prospective buyers tour their home can still conduct showings, buyers restricted from in-person viewings can explore, evaluate and even measure anything within the space as if they were there in person and brokers can continue marketing properties.
IRES subscribers can get started with the platform’s Free plan or enter a promo code 2MSTARTER2020before July 31 to receive access to two free months of the Starter plan ($19.98 value).
As CEO of the Council of Multiple Listing Services, Evans has worked to strengthen communities and provide a unified voice for the MLS industry while leading an organization that includes 203 MLS providers and over 1.2 million subscribers.
Listen to the unique and engaging Dr. Elliot Eisenberg. He is an internationally acclaimed economist and public speaker. Elliot brings to life economics through relevant and educational references without “boring you to death.”
Did you know the new 2020 Realist is available in IRESis, under Search – Realist Beta? We encourage you to check out the new features with the latest Realist release, as the old version of Realist will be going away later this year.
The new features include:
Mobile Friendly – The new interface is mobile responsive, providing you with easy access on the go.
Sell Score Indicator – This graph, now included in the property details report, provides a rating on the likelihood of the property being listed for sale in the next 6 months. In addition, the Sell Score is also a searchable field..
Results Count – The number of matches in this new View Results field will display a total count, a dynamic number that updates as your criteria is changed. There is a 10,000 matches limit. In addition, the number of maximum results has increased to 3,000 records which are displayed per 1,000.
Status Pins – Results are displayed on the map, in color coded pins.
Green = Active
Red = Sold
Yellow = Pending
Purple = Expired
Black = No associated listing activity
Cards View – Cards provide a quick display of 1 photo and key information for the property results. The Card View and Table View icons can be used to switch between the 2 display options.
Favorites – From the card view select the star on the property you wish to favorite. Your favorites can be accessed at any time via the star icon in the upper right corner of Realist.
The new Customize Table Menu offers options for displaying search results in the grid.
Compact Mode – This new option offers a reduced font size and results padding so you are able to view more results on the grid. Select Compact Mode to toggle between Compact and Regular views.
Show Only Selected Rows – Choose this option if you wish to only display the selected properties in the results grid.
Show/Hide Columns – This allows you to add, remove and rearrange fields displayed in the grid.
Stay tuned for more upcoming features, including a Postcards option which will be added with the export, email and labels options. Postcards integrates with HomeVisit to create professional marketing and mailing postcards.
The arrangement empowers subscribers of IRES and REcolorado to access listings in both MLS systems with a subscription to either service
LOVELAND, Colo. — (June 09, 2020) —Information and Real Estate Services (IRES), a Loveland-based regional multiple listing service (MLS) that serves Boulder, Weld, Larimer, Logan and Morgan Counties, today entered into a data-sharing partnership with REcolorado that integrates listing data into each organization’s MLS system.
“Consolidation, in some form or another, is on trend in the MLS industry and this partnership is a terrific step forward in making real estate industry tools more effective for everyone — from homebuyers and sellers to REALTORS® and brokers across Colorado’s Front Range and beyond,” said Chris Hardy, IRES chair. “This agreement helps to remove fragmentation that has plagued our state’s real estate space for many years and signals both organizations’ commitment to meeting broker demand for MLS collaboration.”
Exchanged data is in the process of being integrated into both MLS systems — REcolorado’s Matrix™ listing database by CoreLogic and IRES’ custom in-house system — which will allow users to access available listings across both systems once the integration is complete. The shared data encompasses listings that include up to 40 photos for each listed residential property, townhome and condo, multifamily property and parcels of land. Property statuses include “active,” “coming soon,” “under contract” and “sold,” which can include up to three years of sold inventory history.
“Our agreement utilizing Realtors Property Resource (RPR) was a good first step, but it was only available to REALTOR® members,” said Lauren Hansen, CEO of IRES. “With this more comprehensive arrangement, the shared data is fully integrated within each organization’s MLS system, seamlessly enabling cooperation and compensation on the transactions throughout much of Colorado’s Front Range.”
Data implementation has already begun, and subscribers of each organization will be advised when the process is complete and shared listing information is available. Additionally, data mapping is also underway to make the collaboration as seamless and accurate as possible for end-users once the systems go live with data sharing.
“This partnership is one of the ways we are working to erase the artificial boundaries that have limited the full set of listing data brokers, agents and appraisers need to serve their clients as the expert advisors they rely on for buying, selling and renting properties,” said Alan Smith, Chairman of the Board at REcolorado.
In addition to this agreement, IRES also has a data-sharing agreement with Pikes Peak Realtor Services Corp. (PPRSC) which serves southern Colorado and has nearly 4,000 subscribers. With the addition of REcolorado’s data, IRES subscribers are able to access listings from the entire Front Range, from Weld County to Colorado Springs, from the IRES system.
Information and Real Estate Services, LLC (IRES) was formed in 1996 as the regional Multiple Listing Service (MLS) for northern Colorado by five Boards and Associations of REALTORS® in Boulder, Fort Collins, Greeley, Longmont and Loveland/Berthoud. In addition to these five Boards and Associations, IRES is the MLS provider for the Estes Park Board of REALTORS® and Logan County Board of REALTORS®. ColoProperty.com® for consumers is owned and operated by IRES. Its office is centrally located in Loveland, Colo.
Since 1984, REcolorado has been focused on providing the most accurate and up-to-date real estate information for professionals and consumers. REcolorado is the largest Multiple Listing Service (MLS) in Colorado with more than 25,000 professional subscribers who operate throughout the state. It is REALTOR® owned and serves Aurora Association of REALTORS®, Denver Metro Association of REALTORS®, Mountain Metro Association of REALTORS®, REALTORS® of Central Colorado, South Metro Denver REALTOR® Association, and Steamboat Springs Board of REALTORS®.
The sale and purchase of a home is one of the most significant events that any person will experience in his or her lifetime. It is more that the simple purchase of housing, for it includes the hopes, dreams, aspirations, and economic destiny of those involved.
Civil Rights Act of 1866: The Civil Rights Act of 1866 prohibits all racial discrimination in the sale or rental of property.
Fair Housing Act: The Fair Housing Act declares a national policy of fair housing throughout the United States. The law makes illegal any discrimination in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.
Americans with Disabilities Act: Title III of the Americans with Disabilities Act prohibits discrimination against persons with disabilities in places of public accommodations and commercial facilities.
Equal Credit Opportunity Act: The Equal Credit Opportunity Act makes discrimination unlawful with respect to any aspect of a credit application on the basis of race, color, religion, national origin, sex, marital status, age or because all or part of the applicant’s income derives from any public assistance program.
State and Local Laws: State and local laws often provide broader coverage and prohibit discrimination based on additional classes not covered by federal law.
The home seller, the home seeker, and the real estate professional all have rights and responsibilities under the law.
For the Home Seller: As a home seller or landlord you have a responsibility and a requirement under the law not to discriminate in the sale, rental and financing of property on the basis of race, color, religion, sex, handicap, familial status, or national origin. You cannot instruct the licensed broker or salesperson acting as your agent to convey for you any limitations in the sale or rental because the real estate professional is also bound by law not to discriminate. Under the law, a home seller or landlord cannot establish discriminatory terms or conditions in the purchase or rental; deny that housing is available, or advertise that the property is available only to persons of a certain race, color, religion, sex, handicap, familial status, or national origin.
For the Home Seeker: You have the right to expect that housing will be available to you without discrimination or other limitations based on race, color, religion, sex, handicap, familial status, or national origin
This includes the right to expect:
Housing in your price range made available to you without discrimination
Equal professional service
The opportunity to consider a broad range of housing choices
No discriminatory limitations on communities or locations of housing
No discrimination in the financing, appraising, or insuring of housing
Reasonable accommodations in rules, practices and procedures for persons with disabilities
Non-discriminatory terms and conditions for the sale, rental, financing, or insuring of a dwelling
To be free from harassment or intimidation for exercising your fair housing rights.
For the Real Estate Professional: Agents in a real estate transaction are prohibited by law from discriminating on the basis of race, color, religion, sex, handicap, familial status, or national origin. A request from the home seller or landlord to act in a discriminatory manner in the sale, lease or rental cannot legally be fulfilled by the real estate professional.
The REALTOR® Fair Housing Program
The National Association of REALTORS® has developed a Fair Housing Program to provide resources and guidance to REALTORS® in ensuring equal professional services for all people. The term REALTOR® identifies a licensed professional in real estate who is a member of the National Association of REALTORS®. Not all licensed real estate brokers and salespersons are members of the National Association, and only those who are may identify themselves as REALTORS®. They conduct their business and activities in accordance with a strict Code of Ethics.
The Code of Ethics: Article 10 of the National Association of REALTORS® Code of Ethics provides that, “REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.”
A REALTOR® pledges to conduct business in keeping with the spirit and letter of the Code of Ethics. Article 10 imposes obligations upon REALTORS® and is also a firm statement of support for equal opportunity in housing.
If You Suspect Discrimination
Call the Local Board of REALTORS®: Local Boards of REALTORS® will accept complaints alleging violations of the Code of Ethics filed by a home seeker who alleges discriminatory treatment in the availability, purchase or rental of housing. Local Boards of REALTORS® have a responsibility to enforce the Code of Ethics through professional standards procedures and corrective action in cases where a violation of the Code of Ethics is proven to have occurred.
Call the U.S. Department of Housing and Urban Development: Complaints alleging discrimination in housing may be filed with the nearest office of the United States Department of Housing and Urban Development (HUD) or by contacting them at http://www.hud.gov.
We are breathing a sigh of relief at the easing of restrictions on our industry, especially in regard to the ability to show property again. With it have come necessary safety protocols and knowing how to communicate these changes with our clients professionally is our duty.
In Fair Housing legislature, the basic rule is to describe the property, not who lives or should live there. It is paramount to always be aware of protected classes at the federal, state and local levels.
During the pandemic restricting who may attend showings should be handled carefully. The state association suggests using “Only principals to the buy/sell agreement are allowed for initial showings.” in lieu of prohibiting certain protected classes from attending.
If you have any questions about HUD’s Fair Housing Guidelines, we recommend visiting www.hud.gov. Additional Fair Housing Resources may be found on NAR’s website.
As impacts of the historic pandemic are becoming only slightly clearer, national economists are attempting to crystal-ball short- and long-term forecasts regarding both commercial and residential real estate markets. Since mid-March, IRES has been gathering statistics on a weekly basis to monitor activity through Colorado’s Stay-at-Home orders and Safer-at-Home recommendations. The statistics focus on residential, single-family properties which represent the majority of available inventory in northern Colorado.
“Housing sales and purchases are one important barometer for considering the health of the economy, and the frenzy to decipher the latest data has reached peak levels nationally,” said Lauren Hansen, IRES CEO. “The IRES data seems to offer hope to agents, brokers, and potential home buyers as it points to increasing inventory.”
Hansen has over 35 years in the real estate industry and has been at the helm of IRES since it was formed in 1996. In addition to presenting data depicting an uptick of homes being put on the market, she noted that data comparing March, April and May of 2020 to the same time frame a year ago showed consistency between the two years despite the COVID-19 impact this year. “The data is nearly identical comparing 2019 to 2020 for DTO (Days to Offer) and DTS (Days to Sale),” said Hansen.
According to the IRES data, the average Days to Offer (DTO) is at 31 in 2020 compared to 32 days in 2019. The timeframe when the property listed to closing— Days to Sale (DTS) —is 77 days in 2020, while it was 74 in 2019.
Pending properties saw their lowest tallies throughout April 2020, roughly half of the activity recorded during the same time in 2019, but have picked up noticeably in May.
“Under Contract or Pending properties signal closings in the pipeline for weeks and months to come. Seeing these numbers rebound is a sign of a healthier market,” said Hansen.
New listings took a dip during early and mid-April, parallel to the Stay at Home orders when in-person showings were restricted. Since then, for the past 2 weeks, new listings have surged upward, increasing available inventory for prospective buyers.
“Have we reached the lowest point? Recent numbers seem to point toward ‘yes’ but as the circumstances around us continue to shift as never before, the market will undoubtedly continue to respond, and IRES will continue to monitor and analyze the situation,” said Hansen.