1st Quarter 2020 Market Report; Four Things Could Happen to Charlottesville Market

I’m putting these market reports here because in a few years, they’re going to be important to review. Maybe not important, but important that they lives somewhere in perpetuity that’s not my hard drive.

For buyers and sellers making decisions in today’s COVID-19 market, these are somewhat irrelevant, I think as they don’t fully reflect the post-lockdown market. If you’re looking for that type of insight, ask me.

With that disclaimer, here are the CAAR-provided market reports

Four Things Could Happen to this Spring Market

  • The Spring 2020 Charlottesville real estate market could be paused now, and resume in fall 2020. We’ll pick up much of the lost transaction volume in the fall.
  • The Spring 2020 market could be pushed to Spring 2021. Not the worst scenario.
  • We could see a wave of foreclosures and short sales created by unprecedented unemployment.
  • Something completely different; we didn’t see COVID-19 coming, and we might not see the next thing either.

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