Consumer Facing GeorgiaMLS.com Records 891k Website Visitors in Q2

Maximum Listing Exposure with Georgia MLS Services

Now more than ever, it is critical to ensure your real estate listings are promoted online via the channel’s buyers are actively using to search for their dream home. In a market where inventory is low, and pent-up demand is forcing buyers to move fast, utilizing every tool available is crucial to the success of your business.


We are excited to share data analytics from our consumer facing website, GeorgiaMLS.com, and highlight services available to you as a member of Georgia MLS to enable you to help consumers across Georgia realize their goal of homeownership.

GeorgiaMLS.com in numbers: 4.6 million listings viewed
In the first three months of the year, 787,978 individuals searched for properties on GeorgiaMLS.com. When the coronavirus struck in April, online house hunting continued with 891,394 house hunters visiting our website April through June.

Through the same period January – March, 4.5 million listings were viewed, while 4.6 million listings were viewed April – June. This is a huge indicator that, despite the pandemic, an active real estate marketplace continues to thrive across Georgia.

Georgia MLS Members Active as Ever
As with all our services, we try to encourage and enable adoption by providing training via live webinars and on-demand videos via our YouTube channel.


Since January 2020, we are delighted to report a continued steady increase in the number of our members accessing the Georgia MLS website to ensure their listings are visible to the public.


In June 2020, 28,247 members logged in to utilize the services, a 67% adoption rate of all members. We encourage all agents to maximize the value of their membership and encourage you to get it touch if we can help.

How house hunters are using GeorgiaMLS.com
If you are unfamiliar with our consumer-facing website, we would like to summarize the most popular features. Primarily, buyers create a profile, save properties to their favorites, and email any property to a friend, family member or agent in one click. However, the value for prospective buyers goes beyond searching for properties.


Buyers also use the website to find a real estate agent. People do business with people, and a complete personal website, free to any GAMLS member, will help improve your visibility and likelihood of contact. We highly recommend all agents ensure their profile is up to date with current contact details and, most importantly, upload a profile image. For tips on how to update your profile, please watch this short video.


Other popular features website users regularly utilize include access to tax records, sold history, public records, local school information, and market activity by zip code.

Customize your public Georgia MLS Website Today
As a member of Georgia MLS, we provide a public website for agents to create a custom branded web presence to gain maximum exposure for your listings. Once agents upload listings to GAMLS.com, these listings are automatically populated on both or consumer facing website (GeorgiaMLS.com) and your custom branded website.


Upon setting up your public website, agents can customize the website design from a selection of themes, drive the public to your website by customizing the URL and view the website analytics to gain a better understanding of how your listings are performing.

To set up your public website, please view the following video where our Member Services Manager, Greg Epps, will take you through the process step-by-step.


Click here to view an example of a custom branded website. (Credit: Rowenna Bauza, NACA.)

We are here to help
In summary, if you have not done so already, we encourage you to:
Update your profile on GAMLS.com with profile image and contact details.
Customize your FREE GeorgiaMLS website.


As always, the Georgia MLS team is here to support you. We thank you for your membership, and if you have any questions please call us at 770-493-9000 or email communications@gamls.com.

Georgia MLS Extends Waived Membership Fees to the Value of $2M

Georgia MLS has announced that it will extend the waiving of broker office dues through July and August to help ease the financial strain caused by COVID-19, while helping to maintain an active real estate market.

The suspension of broker fees was initially implemented April through June. Including the two-month extension, the total value of waived fees will reach $2 million.

The reduction of the monthly Appraiser Fee by 50%, from $44 to $22 per month, will also be extended for the same period.

Richard Boone, CEO, Georgia MLS said:
“The real estate industry has made it through difficult challenges before and Georgia MLS will continue to find innovative ways to serve our members.

“From addressing financial concerns with the waiving of the office dues, to modifying the listing policies of ‘Temporarily On Hold’ and ‘COVID Withdrawals’, as well as adding new Live Open House Streaming fields to our online platforms, Georgia MLS will continue to implement meaningful strategies to support our members. Our hope is that the continuing suspension of the office dues will allow our brokers and agents to concentrate on the clients they serve.”

Georgia MLS offer some of the lowest monthly agent fees in the nation, therefore the $20 a month flat agent fees will remain in place.


Membership Figures Hit All-time Record High
In more good news, Georgia MLS is pleased to report that membership numbers have hit a record high of 42,356, eclipsing the previous record of 42,033 in July 2007.

Boone added, “Our membership numbers dipped as a result of the global economic crash in 2008, however we are delighted to reach this new figure and continue our steady growth from 2013.

“Serving our membership is our number one goal and the reason we exist. We will continue to add value to our membership offering through new innovative products, improved education services and through the provision of data to help our members serve their communities and make home ownership possible.


We are here to help
As always, the Georgia MLS team is here to support you. We thank you for your membership, and if you have any questions please call us at 770-493-9000 or email communications@gamls.com.

Georgia MLS Marketplace Energized as Sales Rise in June by 33.5%

Georgia MLS marketplace data for the month of June shows continued signs of market recovery.  Notably, residential unit sales increased 33.5% month-over-month (11,391 units).

Furthermore, data across all key indicators revealed significant month-over-month increases. Sales volume increased 40% ($3.458 billion), new listings rose 6% (14,211 units) and under contract listings increased 14% (17,071 units).

John Ryan, Chief Marketing Officer, Georgia MLS said:

“Our June data signifies market confidence on behalf of both buyers and sellers. We are delighted to report a significant monthly rise in units sold, with year-over-year figures only down 4.7%. To put this into context, throughout April and May when the market was most severely hit by the coronavirus, year over year unit sales were down 24% in April and 33.5% in May. 

Looking through the microscope at the weekly data, a further data point worth noting is that the number of weekly units sold during the last week in June outperformed 2019 levels for the first time since the first week of April. The data is trending in a positive direction and leads me to be optimistic for a strong second half of 2020.”

Sales Prices Continue to Rise

Across Georgia, the median sales price for June continues to rise and increased by 4.1% ($10,000) to $255,000 from the previous month. The Median Sales price year over year has increased 6.3% from the June 2019 price of $240,000.

Meanwhile, Georgia continues to experience a low level of residential inventory, down 11.1% in comparison to May 2020 (22,392 units) and 28% down year-over-year.

Record Membership Participation

Georgia MLS is also pleased to report that membership numbers have increased during this time period to an all-time high of 42,356 subscribers, up from the previous high of 42,033 achieved in July 2007. This number represents a one-month gain of 492 new members which breaks down to 474 new agents and 18 appraisers.

We are here to help

As always, the Georgia MLS team is here to support you. We thank you for your membership, and if you have any questions please get in touch by calling 770.493.9000 and email communcations@gamls.com.

Top 5 Most Common Questions via Tech Support

At Georgia MLS, our number one priority is the support of our members. In today’s blog our Member Services Manager, Greg Epps, unpacks the five most common member questions we receive via tech support.

  1. What is an email drip and how do I set up an email drip within Paragon?

An email drip is a quick and efficient way to automatically notify clients of listings that match their search criteria. In today’s fast-paced, low inventory market we recommend setting up your clients in Paragon’s Collaboration Center, which creates a personal landing page that stores a list of all the properties generated from the custom search parameters.

In four simple steps, an automatic email drip can be set-up to notify clients of the newest listings as soon as they hit the market, or at their desired time each day or week.

Step 1:  Login to Georgia MLS Member Portal and click Paragon

Step 2: Save a Custom Search to your client contact.

Step 3: Select Collab Center with Auto Notify.

Step 4: Simply set up automatic email notifications, including frequency.

For more information and a step-by-step guide, please watch our webinar Using the Collab Center in Paragon (from 17mins 45s).

2. What is the best way to search for properties and can I customize the search fields?

There are two very common ways to search for properties within Georgia MLS Member portal. The first is through GAMLS Search.

Step1:   Login to Georgia MLS Member Portal

Step 2: Click Search from the main menu and select All Property Types or select one of the defined search options within the menu bar.

Step 3: Utilize all the available search criteria to narrow your search. Search by property type, location, price, listing status, status change, by agent, broker and more. 

The second is via our flagship system, Paragon, accessed via your Georgia MLS Member Portal. Once again, you can customize your search utilizing the various criteria parameters available and also . For more information and a step-by-step guide, please watch our webinar Searching in Paragon

3. How do I enter and edit a listing?

Entering a listing in Georgia MLS is very straightforward and uploaded via Paragon. Simply:

Step 1:  Login to Georgia MLS Member Portal and click Paragon

Step 2:  Select Listings from the main menu and select the specific property type.

Step 3:  Complete the listing input form and save. You will be given a list number confirming your list is in the system.If you have not completed all the required fields, save as a partial listing and complete at a later date.

To maintain either a partial or live listing, simply hover over Listings on the main menu bar and select the relevant option. For more information and a step-by-step guide, please watch our webinar Listing Input in Parago

4. How do I set up my free website via Georgia MLS?

Setting up your free website is a great benefit for all Georgia MLS members.The website builder is extremely user friendly, has built in analytics and includes a selection of design theme options to allow agents to differentiate from each other.  

For a step-by-step guide on how to set-up, customize, and manage your branded website, please view our New Agent and Office Website Webinar here.

If you already have your own website, for maximum exposure we recommend that you also create a Georgia MLS branded website. You can hyperlink to your own website, from your Georgia MLS branded website.

5. Can you recommend a virtual tour and how do I add a virtual tour to my Georgia MLS listing?

One of the most common questions we receive is members asking if we could recommend a company that can help with virtual tours. Unfortunately, Georgia MLS cannot make specific recommendations, however we do have a resource where you can locate and evaluate options through one of our partners RETechnology.

As a benefit to Georgia MLS members, click this link to set up a free account with RETechnology, which will save you $199 per year.  For more information and a step-by-step guide to setting up your free account, click here.

Adding a virtual tour to your listing could not be easier. Simply edit the listing via Paragon and scroll down to the sub-header Virtual Tours and paste the virtual tour URL link in the relevant field.

We are here to help

As always, the Georgia MLS team is here to support you. We encourage you to check out the following resources:

We thank you for your membership, and if you have any questions please get in touch by calling 770-493-9000 or email communications@gamls.com.  

Guide to Conducting a Successful Virtual Open House

Virtual house tours have been around for years. However, until recently, they were more commonly used to showcase homes to out of town buyers relocating to a new area. Almost overnight, the coronavirus turned the world upside down, resulting in businesses pivoting to explore new ways of working.

A trend towards virtual open houses soon gained momentum, and the move has been critical in ensuring an active real estate marketplace. Arguably, virtual open houses have proved to be the most valuable tool in an agent’s toolbox, but the transition is not easy for everyone. If running a virtual open house sounds like a daunting task, fret no more. Below are some top tips to get you on your way.

Choose Your Favorite Platform and Go Live

To deliver a first-class viewing experience for potential buyers, there is no need to invest in expensive equipment or hire a videographer. All you need is a smartphone (with camera) and a reliable internet connection.

Next up, select the social media or video conferencing platform of your choice.  Most common apps with live capability include Facebook, Instagram, YouTube, Zoom or Google Hangouts. Then, schedule a time to go live and announce it to your social media audience. 

Preparation is Key

If you are required to make a presentation to colleagues at work or deliver a speech at a wedding, preparation and practice are key. Performing a live open house is no different. Making it up as you go along is perhaps not the best strategy to get the best results possible. To ensure your open house runs as smoothly as possible, here are a few tips.

  • Technology Rehearsal: Familiarize yourself with your chosen platform to ensure you are comfortable with the technology. Test out the process with a colleague or friend as your audience and make sure to test the audio, lighting, and chat functionality to ensure the best experience for potential buyers.
  • Simple Structure: Structure your tour into three stages; opening, tour and closing. Prepare a short list of bullet points for each step to ensure you hit all your essential points. A strong opening will help engage viewers while being mindful of their time. Introduce yourself, thank viewers for joining you and let them know how to interact with you via the chat function before moving onto the main event: the open house itself. In closing, plan to set aside time for viewers to ask any questions via the comments section, which can be addressed live. Be clear about any next steps.
  • Route Planning: Map out the most efficient route for your property walkthrough and make a note of the key points of interest in each room ahead of time to ensure you hit all the highlights.

The Big Day

Preparation complete! Below are a few tips to bear in mind as you get ready to push the button and go-live on the big day:

  • Arrive in ample time and walk through the property as you previously planned. Ensure all the lights are on, the doors are open, the property is tidy and there are no sneaky obstacles in your way. The last thing you want is to take a tumble live on air!
  • Utilize both the front and back facing smartphone cameras and flip between both during the live broadcast. For example, use the front-facing camera during your introduction and closing, and the back-facing camera while conducting the tour itself.
  • Open the tour with a welcoming shot of the property showcasing its curb appeal before moving inside.
  • While the tour is underway, be authentic. During your planning, you have identified the most important points you would like to address. Try to avoid being too scripted and let your personality come across like you would in a person-to-person open house. 
  • Do not rush! Take your time and make sure to point out all the features that make the property unique, like you normally would.
  • Be professional, but no need to be perfect. Like any live broadcast, second takes are sadly not an option. Viewers do not expect a flawless performance like a prime-time news feature. It is far more important to be personable, informative, helpful, engaging and authentic.  

The Value of Feedback

Feedback is invaluable as you hone your virtual open house skillset. Most platforms allow you to save the live tour so it can be viewed on-demand. Take out your pen and notepad, critique yourself, then ask trusted colleagues, family, or friends to do the same. Your one-to-one follow up with attendees is a great opportunity to ask for candid feedback as we all adapt to the new normal.

Finally, if going live feels like a step too far, consider easing your transition to the virtual world by recording a video walk-through and retrospectively uploading the file to your various social media and digital channels.

We are here to help

As always, the Georgia MLS team is here to support you and see you through this challenging time.

If you found this blog useful, please check out our most recent blog highlighting Useful Resources for Real Estate Agents During COVID-19.

We thank you for your membership, and if you have any questions, please call us at 770-493-9000 or email communications@gamls.com

Consumer Confidence Rising as Georgia Housing Market Shows Signs of Recovery

As states across America begin to re-open their economies, early indicators point towards a real estate market bounce back and rising consumer confidence in Georgia.

The aggregated monthly statistics for May show the Georgia MLS real estate marketplace is energized and buyers and sellers remain actively engaged. While year-over-year statistics trail 2019, May data has shown encouraging gains over April.  

Under Contract and New Listings on the Rise

Throughout May, the Georgia marketplace experienced significant increases in both Under Contract and New Listings. New Listings increased by 14% (13,410 listings), demonstrating that sellers are re-entering the marketplace. Under contract listings increased 36% from April, marginally down 3.4% from the same period in 2019.hai

John Ryan, Georgia MLS Director of Marketing, says: “Understandably, the pandemic caused uncertainty, and this was reflected in April with notable year-over-year decreases in unit sales (-13%), under contract listings (-20%) and new listings (-26%). However, as buyers and sellers start to re-engage, the May data leads me to be optimistic for a strong second half of 2020 and into 2021.

“Throughout the pandemic, we have been closely monitoring the Georgia MLS market data on a weekly basis. A significant turning point worth highlighting is when the number of Under-Contract listings (17-23 May) overtook 2019 year-on-year figures for the first time since early March. (See Graph below).

“With re-opening plans well underway and continued low levels of residential inventory, pent-up demand is likely to fuel the real estate market’s recovery here in Georgia.

Showing Activity on the Up

ShowingTime, the real estate industry’s leading showing management and market stats technology provider, published data that reveals the initial drop in showing activity experienced throughout March and April has given way to encouraging signs of stabilization.

Data reports the weekly average number of showings across Georgia is up 35.9% for the year, +1.8% compared to the same time (May 31) in 2019.

On-Hold and Withdrawal Status Number Decline

Two Georgia MLS policies implemented during the pandemic, the option to Withdraw or temporarily put listings On Hold have shown steady declines, indicating sellers are becoming more comfortable with putting their house on the market. 

The number of listing withdrawals has steadily declined from a peak of 71 at the end of March, to 22, as of May 23, while the number of on-hold status listings have reduced, from a peak of 341 as of April 23 to 174,  as of May 23, 2020.

Upskill in Your Downtime with Georgia MLS

Continuing education is required to maintain an active real estate license, notably 36 hours of Commission approved continuing education during each four-year renewal period.  

However, continuing your real estate education is about far more than just maintaining your license.

With more than 70,000 active real estate agents in the state of Georgia, you want to set yourself apart as knowledgeable and professional. That means continually adding new skills and knowledge to your armory to best serve your clients’ needs and to keep pace with the ever-evolving industry.

Included as part of your Georgia MLS membership, we offer over 40 online continuing education courses at no cost. Here are our top three continuing education courses to upskill during your downtime.

Georgia Real Estate License Law Core Course (3-hour)

This Georgia-specific course breaks down the state’s rules, regulations and laws regarding the practice of real estate into simple-to-understand content making comprehension and application much easier.

You will cover the Commission-required 3 hours of CE on the following mandatory topics of Georgia license law under Rule 520-1-.05 (1)(e):

  • effects on license status by a licensee of prohibited conduct.
  • requirements of a qualifying broker and an affiliated licensee upon transfer of a license from one firm to another.
  • requirements of a qualifying broker and affiliate licensee concerning trust or escrow accounts.
  • unfair trade practices prohibited by law.
  • brokerage relationships.
  • management responsibilities of real estate firms.
  • requirements for advertising.
  • handling real estate transactions; and licensees acting as principals.

Anti-Discrimination Laws (3-hour)

We recommend this course specifically because of the evolution of the definition of Fair Housing through various acts of legislation and judicial review over the last 100 years. Now more than ever, it’s important to understand the rights and responsibilities of home buyers, home sellers, lenders and real estate agents to ensure “equal professional services for all people.”

Delegates will examine fair housing laws from a historical perspective, residential segregation, the Federal Fair Housing Act, familial status discrimination, developing reasonable occupancy standards, the definition of “handicap,” NAR positions on AIDS disclosure and more.

Ethics in Real Estate (3-hour)

Within this course you will cover the Code of Ethics and Standards of Practices established by the National Association of REALTORS® (NAR). The Articles of the Code are supplemented with a definition of terms, examples of ethical and unethical practices, scenarios, and decision-making exercises with violations and sanctions also addressed.

To enroll in the above courses, or search the full library available as part of your Georgia MLS membership, login to the Georgia MLS Member Portal.

We are here to help

As always, the Georgia MLS team is here to support you. We thank you for your membership, and if you have any questions please call us at 770-493-9000 or email producttraining@gamls.com.

Georgia MLS Policy Updates and Guidance: Keeping You Informed

Navigating today’s real estate market conditions is challenging. Supporting our members during COVID-19 is our number one priority at Georgia MLS. In doing so, we would like to share the latest policy updates and highlight the ways in which members can utilize existing functions to lessen the economic impact of the pandemic where possible.

Covid-19 Special Stipulation

As the coronavirus pandemic continues to impact the real estate industry, the COVID-19 special stipulation, or contractual clause, can be added to sales contracts to help address situations where closings cannot take place as contracted, resulting in a delay.

The stipulation ensures both the Buyer and Seller each have the right to extend the date of closing. For more details and access to the stipulation in full, click here.

On Hold Status

Georgia MLS has enabled a new listing status allowing Active listings to be moved into a temporary off market status known as On Hold.

Importantly, the On Hold status does not terminate the listing agreement but allows the listing to be taken off the market for conditions such as home repairs, out of town owners, holidays, or for reasons where the property is temporarily unavailable to be shown, for example due to the ongoing COVID-19 situation.

After 28 days, Paragon will automatically change the On Hold status to the Back on Market status. In instances where the listing is ready to be shown prior to the end of the 28-day period, the listing agent can change the listing manually.

The On Hold status is an off-market status, meaning days on market will not be calculated during the On Hold period. For more information, please visit our On Hold Frequently Asked Questions.

New Property Status – Coming Soon

On March 3, 2020 Georgia MLS implemented a new property status of Coming Soon in conjunction with the National Association of REALTORS® Clear Cooperation policy 8.0.

The Coming Soon status accommodates the pre-marketing of listings before they become available for showing and is allowed for a maximum of 21 days prior to the list date on the Exclusive Right to Sell or Exclusive Agency Agreement.

Importantly, listings with a Coming Soon status cannot be shown until the On Market Date is reached and the Coming Soon status is required to be strictly adhered to, as stated by the MLS Statement 8.0 Clear Cooperation Policy. For further guidelines and information, please visit our Guidelines and Frequently Asked Questions resources.

We are here to help

As always, the Georgia MLS team is here to support you and see you through this challenging time. We thank you for your membership, and if you have any questions please call us at 770-493-9000 or email communications@gamls.com.

Useful Resources for Real Estate Agents During COVID-19

As the real estate industry adapts to the current climate by integrating technology, we are highlighting the best tools on the market to manage your business while practicing social distancing.

Transaction Desk – The Complete Transaction Management Solution

With Transaction Desk you can access and manage all your real estate forms, contracts, documents and contacts on your mobile device, via their free to download app. Your virtual real estate office is loaded with the tools you need to complete a real estate transaction quickly and accurately.

While the world is practicing social distancing, AuthentiSign, enables agents to create and legally e-sign contracts, removing the need to meet buyers and sellers in person.

Transaction Desk is included as part of your Georgia MLS membership. Visit our YouTube channel to view all of our Transaction Desk training videos.

Virtual Tours

Real estate agents are now looking for ways to cater to homebuyers that are quarantined at home. Virtual tours are a great way to keep buyers engaged in the market without violating social distancing guidelines. Here is the rundown on how our favorite apps and tools are accommodating virtual tours.

Showingtime allows members to set-up virtual tours online, with all you need to know in this handy guide.

Homesnap has added the ability to create stories, almost identical to Facebook and Instagram stories, (and can be pushed out in a single click on those social platforms, as well) making for an effective way to replicate the feeling of an open house. Here are their suggestions to keep your business running despite the current obstacles.

If you would like to engage a company to provide Virtual Tour technology, sign up for a free account with our partner, Retechnology, and research the best options that will work for you and your clients.

Paragon – Live Stream Open Houses

With virtual open houses being a natural response to social distancing restrictions, let’s take a look at how they work.

Simply schedule a time to go live and announce it to your social media audience. Then, using livestreaming software like Facebook Live, Instagram Live or Zoom, conduct a live walk through of the property with viewers tuning in from the comfort of their home, interacting in real time through live comments.

After the live stream is over, the virtual open house video becomes on-demand content, which can then be shared, downloaded, edited, and re-purposed. As an agent, you now have a house tour video that can be shared on Instagram, YouTube, Facebook, or even email.

One of the great advantages of running a virtual open house is that is allows you to show the property to many people at once, saving time and money for everyone. For more information on how to add virtual live streaming tours to Paragon, click here. You can also review all of Paragon’s functions on this series of how-to videos.

The CRS MLS Tax Suite – Statewide Public Records and Prospecting Tool

The CRS MLS Tax Suite provides customizable and comprehensive access to property records, current tax data, prospecting tools, neighborhood comparables and extensive mapping layers. While we are in challenging times, the CRS Tax suite is a critical tool to keep your business moving forward.

To learn how to ‘Optimize Your Realty Business in the Age of Coronavirus” we recommend tuning into the CRS webinar here. The CRS MLS Tax Suite is also included as part of your Georgia MLS membership.

We are here to help

As always, the Georgia MLS team is here to support you through this challenging time. We thank you for your membership, and if you have any questions please get in touch by calling 770-493-9000 or emailing communications@gamls.com.

COVID-19 Impact on the Real Estate Market: Georgia and Beyond

Rewind back to January 2020 where low mortgage rates and strong home sales indicated the housing market was set for another strong year. Today the situation is very different.

The full economic impact of COVID-19 remains unknown, but the economy is predicted to be hit hard. With the timing of the subsequent recovery also unknown, early data points towards Americans temporarily halting their pursuit of a new home.

In our latest blog we explore the impact of COVID-19 on the real estate market in both Georgia and nationally.

Georgia Housing Market Snapshot, April 2020

As expected, the early signs have not been great. Georgia MLS data reports total property sales for April (8,339) were down 24% year on year (y/y) with new listings also down 24% during the same period.

Furthermore, Current Active Listings for Single Family Detached and Single Family Attached property types (26,606) are down 9% y/y, Current Under Contracts (13,446) also down 18% with Current Monthly Inventory sitting at 2.57 months.

John Ryan, Chief Marketing Officer, Georgia MLS said:

“From the beginning of the year, there was great momentum with Georgia experiencing more new listings in December and January than we had seen in a long time. The market has since experienced a dip due to the coronavirus outbreak, however on a positive note there are still transactions taking place and new listings are coming online.”

“High levels of uncertainty along with fast changing data make it difficult to accurately forecast in the near term. The picture should become clearer in the next 2-3 months as we collate more data on the Georgia real estate market, the economy, and the spread of the pandemic.”

“On the whole, the industry has responded to these challenging market conditions by showing great resilience and positivity to keep the marketplace moving forward.  As we come out of the other side, we hope what we are experiencing is a slow-down, not a stall, and there is a feeling that the market is ready to pick back up where it left off.”

National Real Estate Market

So, what about the countrywide picture. According to the National Association of Realtors (NAR), existing-home sales fell in March following a February that saw significant nationwide gains.

Completed transactions dropped 8.5% from February to 5.27 million in March. Despite the decline, overall sales increased year-over-year for the ninth straight month, up 0.8% from a year ago (5.23 million in March 2019).

Zillow reported newly listed homes were down 27.1% from a year ago in the first week of April. Typically, the number of fresh listings grows by about 50% from March 1 to early April, but this year fell 19% as the COVID-19 pandemic worsened. 

Nationwide, new listings were up 14% at the beginning of March, but the flow of new listings progressively slowed until last Friday, April 17, when new listings were down 43.8% year over year. However over the weekend of April 18-19, new listings began to trend upward, and were down only 37.7% year-over-year by April 19.

While social distancing restrictions has forced agents to explore new ways of working, Zillow reports the number of virtual 3D tours created nationwide during the last week of March was 408% greater than during an average week in February. In March, listings with 3D Home tours received about 50% more site visitors and were saved about 60% more frequently than listings without 3D Home tours.

According to a recent report, Realtor.com state home-price growth slowed notably in the second half of March 2020. Home list prices were only up 3.3% y/y for the week ending March 21, and 2.5% the following week. Notably, this represented the slowest pace of listing price growth since Realtor.com started tracking this data in 2013.

Market Projections

A new report from Fannie Mae projects home sales may fall by nearly 15% in 2020 while LendingTree estimated that Google searches could drop some 63% compared with last year if the impact of the COVID-19 outbreak remains substantial for the next two months. A drop in web searches is a strong indicator of a decline in home sales.

We are here to help

As always, the Georgia MLS team is here to support you through this challenging time. We thank you for your membership, and if you have any questions please get in touch by calling 770-493-9000 or email support@gamls.com.