Very strange times. Anecdotal evidence is that, despite very low rates, mortgage applications for purchases or refis are contracting a bit in light of underwriting scrutiny of borrower income. Recent paychecks are a must.

MLS date through the end of March showed an 11.4% decrease in inventory YoY, to 1063. Sales lagged slightly less, down 3.6% YoY at 425 units. But the pipeline showed some effects of SIP orders, with pending sales down 11% YoY.

Our Mover’s Moving index powered through, alas, with 141 qualifying transactions. See attached.