ALBANY, N.Y. (WSYR-TV) — The New York State Association of Realtors reports the inability of realtors to show homes to prospective buyers in person is to blame for a sharp decline in home sales and homes on the market in the month of May.
Because of COVID-19, Realtors have only been able to show homes virtually, and the organization says that has had an impact.
According to the group, new home listings plummeted in May by 44.5% from May of 2019. Pending sales fell 47.3% and closed sales fell 33.8% compared to last May across the state.
In Onondaga County, new home listings fell 38.4% in May compared to May of 2019. Closed sales fell 28% for the same period, but the median price of those home sales was up 3.2%.