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Have pandemic-induced declines in home listings fueled house price growth?

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New homes listed for sale fell sharply at the beginning of the pandemic. Anecdotal evidence suggests that fear of COVID made homeowners reluctant to list their homes, driving down new listings. Figure 1 shows that from March to April 2020, as COVID lockdowns went into effect, new listings declined by more than one-third relative to previous years and did not return to normal levels until July 2020.

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  • Neil Bhutta & Adithya Raajkumar & Eileen van Straelen, 2021. "Have pandemic-induced declines in home listings fueled house price growth?," FEDS Notes 2021-08-16, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2021-08-16
    DOI: 10.17016/2380-7172.2968
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/have-pandemic-induced-declines-in-home-listings-fueled-house-price-growth-20210816.htm
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