Cy-Fair Edition - July 2020

CYFAIR EDITION

REAL ESTATE

VOLUME XX, ISSUE XX  XXXXXXXXXX, 2020

ONLINE AT

2020EDITION

VOLUME 11, ISSUE 11  JULY 21AUG. 17, 2020

Experts: Cy-Fair real estate market rebounds after spring coronavirus slump

Local Realtors hopeful for summer

BY DANICA LLOYD

Real estate experts reported a dip in the Cy-Fair market following an exten- sive economic shutdown brought on by the COVID-19 pandemic as buyers and sellers alike retreated. But nearly at year-over-year home sales in June reect local real estate agents’ claim that business began to pick up when restrictions were lifted in May. They said they are hope- ful increased activity will continue through the summer. Debbie Marshall, manager and bro- ker with Ross & Marshall Realty, said prior to the pandemic, she and her teamprojected an increase in sales and home prices in 2020. But once county and state ocials issued stay-at-home orders in late March, activity in the local market came to a halt, she said. “We really had no idea what to expect from this,” Marshall said. “In March, things came to a standstill a

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YEAROVERYEAR CHANGES FROM 2019 TO 2020:

SOURCE: DEBBIE MARSHALL OF ROSS & MARSHALL REALTYCOMMUNITY IMPACT NEWSPAPER reported a slowdown in activity starting in late March, but sales activity by June nearly caught up to that of the previous year. Auctuating market Local Realtors

COMMUNITYIMPACT.COMCIPATRON

AVG. DAYS ON MARKET

TOTAL HOMES SOLD +14.9%

-35.5%

March

April

-12.3%

+16.3%

-31.2%

May

+125%

-0.5%

June

+23.3%

CONTINUED ON 28

DANICA LLOYDCOMMUNITY IMPACT NEWSPAPER

IMPACTS

08

SPONSOREDBY • Caldwell Communities 2020 EDI T ION REAL ESTATE

‘Severeanduncontrolled’: COVID19resurges inHarrisCounty

ALL EYES ON THE ICUS

BY SHAWN ARRAJJ

After several months of progressively slowing the spread of COVID-19 in the Greater Houston area, ocials warn case counts and hospitalizations are on the rise again and could lead to disaster if left unchecked. Throughout late June and early July, the record for COVID-19 hospitaliza- tions was repeatedly shattered as more patients were checking in than check- ing out day after day. Since Memorial Day weekend, the number of COVID- 19 patients in Harris County hospitals grew from 509 to 2,696—more than ve times the amount—as of July 13. The surge in hospitalizations and CONTINUED ON 36

A surge in new COVID-19 cases in Harris County has come with an uptick in the number of patients being hospitalized.

SOURCE: SOUTHEAST TEXAS REGIONAL ADVISORY COUNCIL COMMUNITY IMPACT NEWSPAPER

MARKET SNAPSHOT

ICU surge* 1,948 Operational ICU beds 1,622

18

2,000

1,500

1,572

Total ICU patients Beds used by suspected and conrmed COVID-19 patients

1,000

500

752

0

BUSINESS FEATURE

33

*DENOTES ADDITIONAL ICU CAPACITY BEYOND STANDARD OPERATING NUMBERS THAT CAN BE USED IN TIMES OF HEIGHTENED DEMAND

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