Real Estate Continues to Show Unprecedented Strength This Year!

Dated: October 19 2020

Views: 124

Real Estate Continues to Show Unprecedented Strength This Year

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?

Here’s a look at what several industry-leading experts have to say.

Lawrence Yun, Chief Economist, National Association of Realtors

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”

Frank Martell, President and CEOCoreLogic

“Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures…Although the exact contours of the economic recovery remain uncertain, we expect current equity gains, fueled by strong demand for available homes, will continue to support homeowners in the near term.”

Zillow

Zillow’s predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts because sales and prices have stayed strong through the summer months amid increasingly short inventory and high demand.

The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook.”

Bottom Line

Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented strength.

Latest Blog Posts

Top 7 Common Home Inspection Findings

Whether you’re a first-time buyer or not, purchasing a new home is an exciting accomplishment. It can also represent a lot of work and a serious investment, hence the importance of hiring a

Read More

Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand

Real Estate: It’s Still a Lack of Supply, Not a Lack of DemandOne of the big questions real estate professionals are asking these days is whether prospective homebuyers still believe

Read More

Renting in 2021

In many areas across the country, according to recent data from realtor.com, median rental prices have reached their highest point ever recorded. Rents increased by 8.1 percent from the same time

Read More

SIX THINGS HOME BUYERS NEED TO BE AWARE OF IN TODAYS MARKET

Six Things Home Buyers Need To Be Aware Of  In Todays Market. But with help from 12 Stones NWA Brokered by eXp Realty Rogers we are here to walk you through them all!“Let the buyer.&

Read More