Entering the spring home-buying season, the housing market had firmly recovered from Spring 2019 lows
The March data does not show the full impact of “stay-at-home” or similar orders that started to affect most Americans by late March. The April data will no doubt reflect that nearly 90% of Americans were effectively told to not venture outside. What remains to be seen is how the forced unemployment, financial relief to consumers and businesses, and the pandemic’s longer-term impact on the shape of the economy, interplay to affect the housing market.
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