Philadelphia Metropolitan Area Records One of Country’s Strongest Housing Market Recoveries in June

The Philadelphia metropolitian area’s housing market has rebounded in June after an April slump. Image via Charles Fox, The Philadelphia Inquirer.

Philadelphia metropolitan area had one of the best housing market rebounds in June from the nationwide April slump caused by the COVID-19 pandemic, writes Michaelle Bond for The Philadelphia Inquirer.

According to an analysis by Clever Real Estate, the Philadelphia region saw the tenth largest increase in buyer demand from April to June out of the most populous metropolitan areas.

The online referral service that connects customers to real estate agents compared metropolitan markets on April 6, the lowest recorded buyer demand nationally, to June 15, the most recent available weekly data at the time.

For the Philadelphia region, the analysis found that just 18 percent of houses in the region sold within two weeks of listing in April. In June, that number was 45 percent.

Luna Ge, a real estate agent at Canaan Realty, attributes this to buyers once again being more comfortable visiting properties in person and also being ready to put their homes up for sale.

“It’s crazier than ever for me, because a lot of people are ready to list,” said Ge. “It’s really busy.”

Read more about the housing market at The Philadelphia Inquirer by clicking here.

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