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Cape Cod Sees Housing Boom As Coronavirus Keeps People Home

CHATHAM (CBS) - If you see a house for sale in Cape Cod, don't blink. Because it'll be gone in a flash. Cape Cod set an all-time record for home sales in June.

"It's the busiest I've ever seen it," said Chris Rhinesmith, of Pine Acres Realty in Chatham, " I have been down here 20 years. Not forever, but the lowest investor I've seen and the demand is absolutely the highest I have ever seen."

Realtors are seeing low inventory and high demand on Cape Cod. (WBZ-TV)

Cape officials say the surge in home buying is largely COVID-driven. People see uncrowded beaches and open space and decide to move there.

"It's really easy to social distance on the cape. Some may call it coastal distancing," says Ryan Castle of Cape and Islands Realtor Association.

Andi Galambos decided to trade her place in Boston's south end, for a home in Mashpee. "With COVID hitting, we didn't have to be in the office.... and money is cheap with mortgage rates being really low."

"We expected pent-up demand for ... day trips and vacations, but what has been really gratifying is people are deciding to buy homes and move to the Cape," said Wendy Northcross of the Cape Cod Chamber of Commerce.

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