Remarkable Recovery for the Housing Market!

Dated: July 23 2020

Views: 110

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

Mike Bryant

Buying or Selling a Home in Today's Market is a complicated process. Mike brings 35+ years of Real Estate experience to the table, as both an investor and a Licensed Broker. In 2020, Mike co-founded....

Latest Blog Posts

Your Home May Be High on Buyer Wish Lists This Holiday Season

Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the

Read More

Chances of Another Foreclosure Crisis Happening? “About Zero Percent.”

There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there

Read More

Homes for Sale Are Disappearing Quickly

Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just;

Read More

Will Mortgage Rates Remain Low?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping 

Read More