April 2020 Market Update

April 2020 Market Update

In this newsletter, we provide important updates on how the global pandemic continues to impact the Peninsula housing market. This month’s topics include:

  • Key News and Trends Impacting Your Local Market: Banks begin to tighten mortgage lending standards after measures to contain the virus put over 22 million people out of work as of April 11; and requests for mortgage forbearance skyrocket as homeowners question when the pandemic will end.
  • April Housing Market Update: Measured weekly, homes sales fell steeply the first week of April; March data still illustrates a pre-virus market as home prices trend upward and DOM fell as home sold quicker compared to this time last year.

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