An ongoing feature in Tuesday Tactics is our “Great Read Roundup” in which we highlight some of the best pieces we’ve read recently and why they might expand your mind or help with your real estate career.
Pace of Home Sales Improving Rapidly but COVID-19 Containment Key to Recovery
(10 minute read)
Nationally, the real estate market continues to warm up as economies reopen and more buyers return to the streets, but uncertainty remains as COVID-19 concerns linger. The realtor.com Housing Market Recovery Index reached 92.0 nationwide for the week ending June 20, the highest index value since the middle of March when COVID-19 disruptions began. This week’s move represents a 2.0 point increase over the prior week, and the largest weekly jump in four weeks, taking the index just 8.0 points below the pre-COVID baseline. As the summer homebuying season ramps up, the ‘pace of sales’ is now the fastest improving component, but remains below the full recovery baseline. The ‘new supply’ component is also on the path to recovery, while the ‘housing demand’ and ‘home prices’ components remain well above the January benchmark. A second wave of COVID-19 remains a short term threat to housing as the number of new cases reignite and states finetune their plans to reopen.
Housing Market Predictions 2020 & 2021: Forecast & Trends
(6 minute read)
Real estate is still a hot market with some buyers & sellers merely shifting their timing down the line. Here are the updated 2020 housing market predictions. It has become difficult to come up with a solid housing market forecast for 2021 as things are changing with each passing month. Even though the housing market is showing signs of rebounding from economic shutdowns but no one knows how persistent the coronavirus pandemic will be or how long the economy will remain locked down. The good thing, at least for buyers and investors alike, is that house prices have nearly flattened and are poised to remain stable in the latter half of this year.
