Whether you’re an empty-nester looking to sell or a millennial considering a first home, the question on many minds is: Is it time to sell/buy?

For sellers, in spite of a plummeting US economy ( expectation of a 40% annualized rate during the current quarter), the median home price rose 8% year-over-year to $280,600 in March.

Why? It seems the already shrinking housing supply will be exacerbated by a pandemic pause in new home construction.

Photo by Sarah Trummer from Pexels

Buyers don’t get all Eeyore over this news. Construction has been one of the first sectors to resume as economies reopen. Even in hard-hit New York City, nearly 5,000 construction projects have been allowed to continue during the lockdown. In fact, some high-profile developments are already offering hefty coronavirus discounts. Happy home hunting!