A Remarkable Recovery for the Housing Market
Dan May • July 21, 2020
A Remarkable Recovery for the Housing Market
For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low
mortgage rates driving high demand from potential buyers, homes are being purchased at an accelerating pace, and it’s keeping the housing market and the economy moving.
Here’s a look at what a few of the experts have to say about today’s astonishing recovery. In more than one instance, it’s being noted as truly remarkable. Ali Wolf,
Chief Economist,
Meyers Research
"The housing recovery has been nothing short of remarkable...The expectation was that housing would be crushed. It was—for about two months—and then it came roaring back.”
“Recent home purchase measures have continued to show remarkable strength, leading us to revise upward our home sales forecast, particularly over the third quarter. Similarly, we bumped up our expectations for home price growth and purchase mortgage originations.”
"All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels."
"At face value this is remarkable given the scale of joblessness in the economy and the ongoing uncertainty relating to the path of Covid-19…The outlook for housing transactions, construction activity and employment in the sector is looking much better than what looked possible just a couple of months ago."
Bottom Line
The strength of the housing market is a bright spark in the economy and leading the way to what is truly being called a remarkable recovery throughout this country. If you’re thinking of buying or selling a home, maybe this is your year to make a move after all.
If you’ve seen headlines or social posts calling for a housing crash, it’s easy to wonder if home values are about to take a hit. But here’s the simple truth.
If you paused your plans to move because of high rates or prices, it may finally be time to take a second look at your numbers.
After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear.
There’s a trend taking hold in real estate right now: more buyers are choosing newly built homes.
These days, you’re going to want to get your price right when you get ready to sell your house.
If you’ve been following real estate news lately, you’ve probably seen headlines saying home prices are flat. And at first glance, that sounds simple enough. But here’s the thing. The reality isn’t quite that straightforward.
You want mortgage rates to fall – and they've started to. But is it going to last? And how low will they go?
If you’ve been watching from the sidelines, now’s the time to lean in. It’s officially the best time to buy this year.
A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme.
