In the Boston area, January and February were successful months for sales, thanks to the mild weather, a high demand for housing, and a shortage of inventory. That momentum was expected to continue into the spring, but the after the pandemic hit, transactions started falling through and some buyers backed out of sales, Tucker said. With fewer listings on the market and social distancing canceling open houses, sales slowed down in March, but experts say there’s no reason to believe that will continue the rest of the year.
“The real estate market was strong prior to COVID-19, with increased sales and prices through 2019 and the first two months of 2020,” said Kristin Gennetti, a realtor with Century 21 North East. “We also have a housing shortage that will likely still be there when the pandemic ends.”