A Remarkable Recovery for the Housing Market

For months now the overwhelming majority of citizens are asking the same question: When will the economy turn around? Many experts are saying the housing market will lead the way to 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 therefore the economy) moving.

Here’s a glance at what a couple of the experts had to say about today’s astonishing recovery. 

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 mortgage purchase 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.”

Conclusion 

The strength of the housing market is a bright spark within the current economy and leading the way to what’s being called a truly interesting recovery throughout this country. If you’re thinking of shopping for or selling a home, maybe this is your year to make a move.

If you’ve decided that it’s the best time to buy or sell a home, get help from our team of professionals. Contact us today at (562) 980-5198!

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