A Remarkable Recovery for the Housing Market!

Dated: July 21 2020

Views: 28

A Remarkable Recovery for the Housing Market

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

Nanci Gilbert, PA

Nanci strives to provide every client with a smooth and worry-free experience when it comes to buying and selling real estate. In an industry that can move very quickly, she prides herself on taking t....

Latest Blog Posts

93% of Americans Believe a Home Is a Better Investment Than Stocks..

93% of Americans Believe a Home Is a Better Investment Than StocksA recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners&

Read More

Some Buyers Prefer Smaller Homes!

Some Buyers Prefer Smaller HomesOver the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the

Read More

4 Major Reasons Households in Forbearance Will Not Lose Their Homes to Foreclosure

4 Major Reasons Households in Forbearance Won’t Lose Their Homes to ForeclosureThere has been a lot of discussion as to what will happen once the 2.3 million households currently in

Read More

Multigenerational Housing Is Gaining Momentum.

Multigenerational Housing Is Gaining Momentum Some HighlightsIf your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move

Read More