Insights from BSWMarket

April Market Update

By April 9, 2020 No Comments

Hello to all!

I hope this message finds everyone as happy and healthy as can be as we continue to navigate and adapt to this new world in which we find ourselves.

As of this morning, unemployment claims have risen to over 16 million in the United States as another 6.6 million people filed last week.

This number is low as it doesn’t count all of the gig-workers, part-timers, and many of the independent contractors who suddenly find themselves out of work due to COVID-19. During the last recession, jobless claims peaked at 665,000 in March of 2009.

Our message this month is “how can we best help you?”

The effect this is having on all of our lives is unprecedented in scope and stress, and we are here to help however we can. If you are in distress, or if you need anything at all, please reach out and we will do everything we can to help you. If we can’t help you directly, we will connect you with someone who can.

This month’s real estate market update will be very brief – as of Tuesday April 7th, showings were down over 60% throughout the metro area, and active inventory was up 20%.

Given that the traditional real estate transaction takes 30 days to close, and that in-person activities including showings have been put on hold for the time being, April’s month-end data will paint a clearer picture of how COVID-19 and the distress its causing is manifesting in a real estate context. We’ll continue to keep you updated as we learn more.

Again, if you have any questions or are in need of any sort of help, please call.

We are here to support you, and we’ll do everything we can to help you navigate any challenges and uncertainties you’re facing.

All that said, Colorado has seen a decrease in new cases of the virus for four consecutive days, which is fantastic and encouraging news!

We’ve also had some fun making the most of our time at home; we’re making funny videos, sharing great recipes, putting the amazing HouseParty app to serious use, and getting outside to take advantage of our incomparable Colorado days! How have you been able to make the most of your down time? We’d love to hear from you!

In the meantime, stay safe, stay healthy, stay home, and keep washing your hands!

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