An increasing trend in the web traffic to for-sale listings after the majority of state level policies were adopted by late March 2020 may also be explained by this policy and stay-at-home orders.
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Early effects of COVID-19 pandemic-related state policies on housing market activity in the United States.
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The sentences
Not surprisingly, total inventory exhibited a decreasing trend throughout the year.
The first specification in Table 3 indicates that the effects of closure of non-essential businesses on percentage change in new listings are negative and highly significant.
This effect corresponds to 0.3 standard deviation change from the mean of this variable, but marginally significant at 10 percent level.
This effect is economically large but marginally statistically significant.