Home Sellers May Need Some Patience โ˜˜ Hoey Team โ˜˜ eXp Realty

Dated: May 22 2020

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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.

Realtor Magazine 2020 05 22 Home Sellers Need Patience after COVID-19 Coronavirus outbreak Hoey Team eXp Realty

Homes are taking about an average of 15 days more to sell—or about 27% longer—than a year ago, according to realtor.com®’s 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.

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

“Mid-May is normally the time of year when homes sell the fastest,” says Danielle Hale, realtor.com®’s chief economist. “Today’s median time on the market is more like what we usually see in late February or November.”

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

But, while days on the market have increased, consumers shouldn’t assume it’s a buyer’s 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 compared to a year ago.

“This may be surprising to a lot of people,” Hale says.

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.

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.

Here in Southwest Florida, we continue to list and sell real estate.  At our Team โ˜˜ and Brokerage, we have been succesfully working 100% virtually / remotely for the past number of years as we grew, so we have been used to this new requirement, and we just had our eXp shareholders summit, virtually, using VirBELA, which powers eXp World; our virtual campus.

About VirBELA and eXp World Holdings ~ VirBELA is an eXp World Holdings, Inc. (Nasdaq: EXPI) company, which also owns eXp Realty.

VirBELA is an immersive technology platform for business, events and education. Its modern, cloud-based environment provides a virtual experience for workers, attendees, students and more to communicate, collaborate, meet and socialize. For more information, visit our website at www.itsTheFutureOfWork.Com and recieve a free dicount code.

eXp Realty, The Real Estate Cloud Brokerage, is the fastest-growing, global residential real estate company with more than 29,000 agents in the United States, Canada, the United Kingdom and Australia. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth.

Article content from our National Association of Realtors (NAR) Magazine Newsletter and from other sources including Hoey Team โ˜˜ eXp Realty 

โ˜˜ Visit:  www.itsTheFutureOfWork.Com โ˜˜

Hoey Team โ˜˜ eXp Realty COVID-19 Resource Page

On this page we are adding a list of Vendors for COVID-19 related items here in SWFL.  Please let us know if there is a Vendor / Store we should add:   www.VisitCollier.Com      Feel free to share with anyone looking.

NOTE for Buyers and Sellers: On our "VIRUS FREE" Hoey Team โ˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS without any Coronavirus; COVID-19 worries right HERE: ? www.SWFLVRE.com  ? ?

For more Real Estate related information as we go throught this COVID-19 experience, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

P.S. --> If You'd like for me to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details.  We can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing:  https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team โ˜˜ and what we do to help or visit HoeyTeam.Net anytime.

Here is our informational Southwest Florida Website โ˜˜

Barry is a CLHMS; Click Here to see how we help with higher end properties.

Please visit our Hoey Team โ˜˜ Luxury Home Market Page by Clicking Here

Hope Everyone Remains Safe; we are all in this together; and we trust that we will get through this Coronavirus COVID-19 pandemic more united, as one, with as little loss as possible. 

Please let Kim or Barry know if we can do anything to help anyone in need here in Southwest Florida, weither it is for you or for a loved one, and we are able to help in a responsible social distncing way, we will certainly do what we can to help.

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  โ˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team โ˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team โ˜˜ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim โ˜˜

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Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

"Your Real Estate Concierge" If you are looking for a REALTORยฎ or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

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