【World Property Journal】New Listings Fall Sharply Amid Coronavirus Outbreak in U.S.

Zillow research now reports that new U.S. listings dropped significantly this March 2020, and early in April as the coronavirus pandemic took hold. Early spring is peak home-shopping season in most years, a time when sellers list homes on the market in droves hoping to take advantage of the increased competition from buyers shaking off the winter doldrums.

As March began, the housing market appeared poised for the most competitive home shopping season in years -- home value growth accelerated in February for the first time in nearly two years, and the number of new listings added to the market on March 1 was 17.3% higher than a year earlier.

Little more than a month later, the outlook is much different. New listings across the U.S. have fallen off, down 27.1% year-over-year on April 5.

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