When you compare 2020 with 2021 appointments it is fascinating to see how 2 back-to-back years could be so divergent. The two years started with the same trajectory (JAN/FEB 2020 pre-COVID vs JAN/FEB 2021 mid-COVID). Things really changed with the spike in showings in March 2021 which lead to the strongest market in the history of real estate locally and the country as a whole. We saw the opposite occur in March 2020, where appointments began to plummet as COVID took hold. Once COVID safety protocols were adopted in Q2 of 2020, the market made a steady recovery throughout the summer, causing a record breaking fall/winter for sales.
This strong demand lead to a very robust Q1 and Q2 of 2021, where the summer trailed off, and the fall of 2021 proved to be a very stellar market. Now we are faced with very strong demand, lower inventory (which is building) coupled with a new surge in COVID which has lead to a decline in appointments in January 2022.
The good news is we have very rich data, history has a tendency to repeat itself, and trends can be easily identified. Therefore, as we come out of this latest lockdown, and we adjust to this latest variant, we will see a surge in appointments leading to a very robust spring/summer market.