Like all industries, the real estate world is in unchartered territory when it comes to navigating the COVID-19 pandemic. Flexibility and adaptation are key. As Idaho begins to reopen, what might we expect in the housing market?

Two significant indicators of real estate market activity – numbers of new listings and pending sales – show clear increases since May 1^st, when "Idaho Rebounds" began.

According to data provided by the Intermountain MLS, 125 new listings were placed on the market on May 1^st – the highest number in any one day since March 20^th, before the "Stay in Place" order was issued in Idaho.  Additionally, the number of accepted sale contracts jumped to 79 on May 4^th, which was the highest number of new pending sales since March 9^th.

These trends could indicate a resurgence in real estate sales activity and serve as a potential early indicator of consumer confidence at the start of the "Idaho Rebounds" phased approach to opening businesses and loosening social restrictions.

 "Our real estate market was strong as we headed into this event, and it appears that we may be one of the leaders coming out," said Bob Van Allen, president and designated broker at Coldwell Banker Tomlinson.  "Sellers who were considering listing their homes before the shutdown, but held off, are now confident in doing so."

Buyer demand waned early in the quarantine period but has been increasing steadily since early April.  The average number of accepted contracts has gone up from under 40 per day at the lowest, to the most recent high of 79 on May 4^th.

Real estate industry practices such as virtual home showings, live video, and 3D home tours, and adherence to social distancing protocol during in-person meetings have made effective home marketing possible, even during this pandemic.  Additionally, restrictions placed on the number of in-person showings requested for a listing are widely accepted, and serious homebuyers continue to express interest in looking at homes for sale.

Real estate experts nationwide have listed Idaho in general and the Boise area specifically as markets that will rebound quickly. The evidence we're seeing supports those claims.