Florida Real Estate is On The Mend

Take a look at the Real Time Showing Impact of Coronavirus. Weekly showings normalized to the first calendar week of January, and the 7-day moving average data through May 7, 2020 improved each day during the last week from 28% off to just 15% off on 5/7/20 compared to 5/72019. At one point we were off on showings over 60%. That’s a great sign.

I look at it this way — right now, we are back to what traffic would almost normally look like in January. And that is WAY up from where it was. Traffic trends as an indicator of buyer interest and the fact it seems to be rising sharply is a really good sign. I doubt the consumer would be looking if they were not at least somewhat confident and we are making transactions.

Lastly, I’ll bet some of the traffic is from a segment of the market who are fleeing the urban markets of the NE. COVID has shown us all how easy it is to work from home and being in NYC is not as necessary as once believed. And with our zero income taxes, gorgeous weather and open space, the Palm Beaches is in an excellent spot.

Jeff Lichtenstein

Owner/Broker of Echo Fine Properties

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Posted in Uncategorized on May 9, 2020 at 9:48 am.

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