Redfin

With inventory tight and demand compounded by a nonexistent spring home-buying season, a fifth of all buyers waived inspection or appraisal contingencies to win bidding wars, according to Redfin.

Property owners are taking a wait-and-see approach, possibly because of economic uncertainty.

The gap between Black and white homeownership rates is extremely wide in some areas, and it could get worse if the industry fails to proactively address local and national inequities.

For potential higher-end homebuyers, the pandemic was merely a pause, but for those seeking affordable properties — often people of color — it created yet another barrier.

Though outlawed by the Fair Housing Act in 1968, the racist housing practice perpetuated a wealth gap for Black people still widening today.

Potential purchasers are looking to take advantage of low rates, despite worries about job security.

It's the surprise of a spring selling season that's been anything but normal: Buyers returning to the housing market have been battling over the few available properties.

In a study of four metro areas, housing supply and demand gained momentum in the second half of April, even where the COVID-19 curve continued to grow.

As the coronavirus takes a major toll on housing inventory and credit availability, pent-up buyer demand could lead to market recovery, according to Redfin.

Separate reports from Radian and Redfin show home values rose during March despite a slowdown in sales, but that is likely to change as shelter-in-place orders affect the real estate markets.