Here is the continuing examination of the Cincinnati real estate market activity using newly signed purchase contracts, also known as new pending sales. This gives us the most up to date look at activity in these strange times. Here is what we are seeing:

In last week's market report I mentioned that the long term outlook for 2021 and 2022 is going to depend upon whether high unemployment persists and how many mortgages go into foreclosure. Just today, a mortgage analytics firm, Black Knight, released data from April showing that delinquent mortgages now represent 6.45% of all mortgages, up from 3.39% in March. The represents 3.6 million homeowners. The largest increases were seen in New Jersey, New York, and Nevada. The early report did not show data for Ohio. Not all delinquent mortgages lead to foreclosure and foreclosure is not a quick process, even ignoring the current moratorium in Ohio on foreclosures. Therefore, it will be a while before the effects are felt in the market. This is what I will be watching as I look to the future of our local real estate market. Please contact me if you have any questions at 513-830-8227 or beppert@pivotrealty.com. I would be happy to discuss this further.