{"id":17378,"date":"2020-05-27T12:11:08","date_gmt":"2020-05-27T12:11:08","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17378"},"modified":"2020-05-27T12:11:08","modified_gmt":"2020-05-27T12:11:08","slug":"sellers-may-need-some-patience","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/sellers-may-need-some-patience\/","title":{"rendered":"Sellers May Need Some Patience"},"content":{"rendered":"

Sellers May Need Some Patience<\/h1>\n
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Homeowners trying to sell during the pandemic will likely need some patience and a degree of expectation that the process could take longer. Homes are taking about an average of 15 days more to sell\u2014or about 27% longer\u2014than a year ago, according to realtor.com\u00ae\u2019s data reflecting the week ending May 16. This marks the largest increase in the number of days that homes have spent on the market since 2013.<\/p>\n

Days on the market have been gradually increasing since the pandemic began. During the first two weeks of March, prior to the outbreak\u2019s growth in the U.S., homes were selling four days faster than a year ago.<\/p>\n

\u201cMid-May is normally the time of year when homes sell the fastest,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cToday\u2019s median time on the market is more like what we usually see in late February or November.\u201d<\/p>\n

But stay-at-home orders and unemployment have prompted a slowdown in the market. The National Association of REALTORS\u00ae reported on Thursday that existing-home sales dropped 17.8% in April compared to March<\/a>. Many economists view the sales slump as temporary, particularly given the sudden uptick in mortgage applications for home purchases<\/a>.<\/p>\n

But, while days on the market have increased, consumers shouldn\u2019t assume it\u2019s a buyer\u2019s market now, housing analysts say. Home prices are staying firm. NAR reports that existing-home prices for all housing types jumped 7.4% in April<\/a> compared to a year ago.<\/p>\n

\u201cThis may be surprising to a lot of people,\u201d Hale says.<\/p>\n

But a tight inventory of homes for sale persists. The number of new listings dropped 39% year over year for the week ending May 2.<\/p>\n

Hale predicts that days on the market will drop again in the late summer as more cities loosen restrictions and more potential buyers return to work.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cHome Sellers Should Channel Patience as Time on Market Shoots Up During the Crisis<\/a>,\u201d realtor.com\u00ae (May 21, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sellers May Need Some Patience Homeowners trying to sell during the pandemic will likely need some patience and a degree of expectation that the process could take longer. Homes are taking about an average of 15 days more to sell\u2014or about 27% longer\u2014than a year ago, according to realtor.com\u00ae\u2019s data reflecting the week ending May … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17378","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nSellers May Need Some Patience - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/sellers-may-need-some-patience\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/sellers-may-need-some-patience\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/sellers-may-need-some-patience\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Sellers May Need Some Patience\",\"datePublished\":\"2020-05-27T12:11:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/sellers-may-need-some-patience\\\/\"},\"wordCount\":335,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/sellers-may-need-some-patience\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/sellers-may-need-some-patience\\\/\",\"name\":\"Sellers May Need Some Patience - 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