As states reopen, and the housing industry remains a solid place for consumers to invest, recent data from Homesnap indicates that 2020 may finish stronger than expected.

Agents are feeling optimistic heading into the summer market, and consumers will hopefully follow suit. As states reopen, and the housing industry remains a solid place for consumers to invest, recent data from Homesnap indicates that 2020 may finish stronger than expected.

Low inventory and resilient attitudes

The impact of the coronavirus on the real estate market has caused historically low home inventory numbers as social distancing makes showing and selling homes more difficult. However, the real estate market has proven to be resilient, with listings and closings persisting throughout the months of April and May, making agents optimistic about the health of their business.

Agent sentiment goes hand-in-hand with transaction volume

Since spring 2019, Homesnap has measured agents’ views about the health of their local market by asking them each month whether they are more optimistic, less optimistic or had no change in feeling compared to the month before. Agents across the country using the Homesnap Pro app are asked this question once per month, and roughly 40,000 agents submit a response.

Homesnap recently analyzed the results from its Agent Confidence Index as well as market data from February through May of 2020. This data is important to share to help those in the housing industry continue to gauge improving markets.


Agents who closed a higher volume of transactions over the last 12 months were the most optimistic about the market in April, while lower-volume agents felt the opposite. This data suggests that established agents are pushing forward with business, but part-time, hobbyist and newer agents may be having a harder time finding traction.


Agents with more than 20 buyer/seller transactions per year reported a 4.56 percent decrease in pessimism from March to April 2020, while agents with less than five buyer/seller transactions per year reported a 0.77 percent increase in pessimism over the same time period.

Inventory conversations that need to happen right now

Agent confidence is a key factor in driving consumer decisions about how to list, sell and buy in this new market. One would argue that if agents are feeling confident, they will be able to inspire confidence in their local market.

Listings are desperately needed across the country. Agents whose buyer and seller leads have gone cold can help coax them back to the market — either to keep looking or to sell their homes — through their expressions of confidence.


From April to May 2020, Homesnap reported a significant increase in listings brought to the market across all four regions of the United States. While there was a slight decrease in closings, as the market continues to reopen, Homesnap anticipates closings to rise as more listings are brought to the market and transactions are completed.


The Northeast saw the greatest increase in listings (70.71 percent) and greatest decrease in closings (9.4 percent). The Midwest saw the second largest increase in listings, at 37.05 percent, and the smallest drop in closings, at 3.6 percent. Listings in the West were up 26.84 percent, while closings were down 8.7 percent, and in the Southeast, listings went up 17.05 percent and closings dropped 5.2 percent.

Summer market into fall?

Will summer optimism lead to a strong fall market? If sentiment continues to align with cautious state openings, we could see a booming fall market if consumer confidence catches up to the demand for listings. As many consumers reevaluate their surroundings and financial situations, we could see more market behavior changes.

What are your predictions based on where you are currently? Are you feeling optimistic? Comment below and share what’s going on in your market.

By day, Rachael Hite helps agents develop their business. By night, she’s tweeting and blogging. Feel free to tweet her @rachaelhite.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription