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While buyer demand has softened and sales (for the entire U.S.) fell 8.5% in March, the supply of homes on the market is contracting even faster.

An article in The Wall Street Journal Online dated May 5 discusses how although the Covid-19 health emergency is causing a drop in buyers venturing out to look at homes for sale, home prices continue to rise.  Some sellers have taken their homes off the market, and others are postponing listing, as they wait to see what develops with the pandemic and the economy.  Because supply remains less than demand, prices are still rising.  Real estate economists do not expect prices to fall, unless a lot of houses go into foreclosure.  Read the full article at:

https://www.wsj.com/articles/why-home-prices-are-rising-during-the-pandemic-11588671002?shareToken=st7c4b0344e88b48b2a1b1d391c6fb1916&reflink=article_email_share

Market Report 1 Minute Read (0)

Contact The Lora Company

225 Kit Carson Road
Taos, NM 87571
Click for Google Maps
ph. 575.758.3275
fax 575.758.5724

Peter A. Lora
NM License No. 17543
peter@theloraco.com
ph. 575.770.7243

Maria Figliolia
NM License No. 42734
mariafig@newmex.com
ph. 575-779-0285

Sanjay Poovadan
NM License No. 45362
sanjay@taosrealestatepartners.com
cell. 575-779-1021

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The Lora Company

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225 Kit Carson Road - Taos, NM 87571
575.758.3275