Tom Ruff of the Information Exchange reports that the number of listings that went under contract in May were the most in 2020, surpassing the highwater mark of March. So its no surprise that closed sales in June were the highest so far this year, falling only 91 sales behind June 2019. So the unprecedented 30-day drop in contracts in April due to Covid-19 was temporary. How the pandemic will affect closings in the future is anybody’s guess, but in the Phoenix metro area the housing market is currently doing very well.
