Research Brief: Housing – April 2020
Apartment owners benefi t from retreating home sales. The sale
of existing homes in March posted the largest month-over-month
decline in more than four years, retreating 8.5 percent. Yet sales
are up 0.8 percent on an annual basis as properties in escrow before
the shelter-in-place restrictions move through the pipeline.
Purchasing is expected to continue to slow into the spring buying
season due to more complicated logistics, employment uncertainty
and limited inventory. These factors benefi t apartment owners
as many potential homeowners remain in the rental pool longer.