What effects about re-opening can we tease from the local data? A look at preliminary MLS data for May showed a 19.7% decline YoY in units for sale (935 vs. 1164), and a 27.8% YoY decrease in May sales (397 vs. 550). However! Homes placed under contract in May 2020 was up 37.5% over April 2020 – the clearest signal of the effect of re-opening. That metric was also up 26.8% over May 2019.

Our Mover’s Moving index was at 129 transactions for May. It is perhaps a more level finding given the weight of builders in the count, and the fact that much of that activity continued through the shutdown. See attached.