Showings have reached pre-Covid rates as expected, however a decline is anticipated as local curfews in Los Angeles County are in effect. New inventory on the market in the past week has also declined.

On behalf of the leadership team - I wanted to touch base to let you know we are deeply saddened by what’s happening around the Country right now, as it affects every single person in the world. Agents in our industry are amazing human beings from all walks of life and from all different backgrounds, races and religions. Because of that, we can not ignore what is happening. Coming together now as an industry is even more powerful than before.

As of May 21st, the Mortgage Bankers Association's reported on their Forbearance and Call Volume Survey that there were now 4.1 million U.S. homeowners in mortgage forbearance plans. Based on its figures, loans in forbearance now make up 8.16% of all U.S. mortgages, up from just 2.66% on April 1. That is a huge jump and this will have a significant impact on the real estate market. But how? When? And what can I do to advise my clients, support them, and still build my real estate pipeline?

Nobody knows the future and yet, there are certain indicators that can give us insight into the impact the current conditions and what strategies you should adopt now to prepare your business. Here are some insights to help you understand where the market is currently.

Showings have been on a steady rebound since March 28th and are close to returning to normal showing rates. Based on the current trend, we can anticipate that showings will likely soon reach pre-Covid rates.

Now more than ever, we see the power of a strong database! Which is why I am so excited to have this very special guest— Philip Alderfer! 👊🏽 Philip himself he has sold over 1,300 home and has appeared on multiple news outlets including Fox News, CBS, NBC, and National Public Radio!🙏🏽

While showings have continued to steadily pick back up, in the past 7 weeks, closed sales per week are still down approximately 41.64%, with the per week average up to 523.5. New inventory is down about 35.71%, with the per week average up about 2.18% from last week in Los Angeles county in comparison to the 8 week period Pre-Covid19 (1/27-3/22).