Real estate making ‘stunning’ coronavirus recovery: Expert agents
Dolly Lenz Real Estate CEO Dolly Lenz and Managing Director Jenny Lenz discusses the industry’s rebound from coronavirus economic downturn.
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Real estate is making a “stunning” recovery as demand for housing rises at rapid rates and the coronavirus curve flattens, according to a leading real estate broker.
“It’s amazing,” Dolly Lenz Real Estate CEO Dolly Lenz told FOX Business’ Maria Bartiromo on Thursday. “Purchase volume was down just 1 percent over a year ago. Imagine that. Last month it was down 35 percent annually. This month it's only down 1.5 percent.”
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High demand has caused a bidding war to break out amid tight inventory, according to her daughter Jenny Lenz, who is the managing director of Dolly Lenz Real Estate. Housing starts are down 32 percent, she said, and new listings are down 29 percent annually.