County Market Update and Analysis The Case-Shiller Index is one of the most respected and cited real estate indices in the USA. It has data for 16 of the 20 largest metropolitan areas (including D.C.) in the United States and it runs almost 2 months behind. For example, March data comes out at the end of May. In addition, the data is a 3-month moving average so that March data that comes out at the end of May is really the average for January-February-March. Some might call it February data. So you could say Case-Shiller data really runs 3 months behind. By contrast, my Montgomery County Sales Reports Through May 31, 2020 are delayed by merely a week, to allow the data to be more fully uploaded! In these very volatile days we really want stay on top of the changing market as soon as it is reliable.
Comparing May 2020, to a year earlier, closed Sales Volume in Montgomery County shows the impact of the Corona pandemic. Sales fell 37% compared to sales in May of last year! (See Fig 1) while Active listings were also down a huge 33%. Prices were flat and Days on Market (DOM) of Sold Listings was down dramatically, from an average of 39 days in May ’19 to just 23 days in May ‘20. This is the fastest pace we have seen in many years!
The Table below provides more detail to the above discussion