Housing Market Starts to Rebound; Inventory Shortage Squeezing the Market and Escalating Prices
Buyer activity in the Cape Cod market is greatly increasing as coronavirus restrictions ease, however, the lack of homes for sale creates uncertainty on further rebounding of the housing market. The month of May ended with an expected steep decline in homes sold, but an uptick toward the end of the month in homes going under contract – indicating a return of buyer activity. The median sales price is also increasing as the inventory shortage squeezes the supply in the market.
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