By Staci Caplan
2020 President
Santa Barbara Association of REALTORS®
A survey of California REALTORS® taken over the weekend and data on the pandemic itself showed positive signs for recovery where the housing market remains a relatively bright spot. However, there are several factors which show that the effects of the recession continue to weigh heavily on the pace of the recovery, even in a brisk housing market.
Buyer demand, particularly here in California, remains very vigorous. Mortgage applications nationwide are more than 20% above 2019 levels. Requests for showings in California are more than 90% higher than they were at this time last year, despite COVID constraints. Buyers have adapted to the virtual process and are more comfortable moving forward to purchase even from afar.