A Remarkable Recovery for the Housing Market

Dated: July 21 2020

Views: 16

A Remarkable Recovery for the Housing Market | MyKCM

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.”

Fannie Mae

“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.”

Javier Vivas, Director of Economic Research for realtor.com

"All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels."

James Knightley, Chief International Economist, ING

"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.

Blog author image

Alex Ortiz

I started my real estate journey in 2001 as an assistant and in 2004 earned my Real Estate License. Since then I have gone through my own buying and selling experience, became an entrepreneur in vario....

Latest Blog Posts

The Power of Mortgage Pre-Approval

The Power of Mortgage Pre-ApprovalSome Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined

Read More

Why Waiting to Buy a Home Could Cost You a Small Fortune

Why Waiting to Buy a Home Could Cost You a Small FortuneMany people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to

Read More

Are Interest Rates Expected to Rise Over the Next Year?

Are Interest Rates Expected to Rise Over the Next Year?So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there

Read More

4 Big Incentives for Homeowners to Sell Now

4 Big Incentives for Homeowners to Sell NowThe housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of

Read More