Experts Weigh-In on the Remarkable Strength o the Housing Market - EXIT Homevets Realty - KILLEEN-FT HOOD, CENTRAL TEXAS REALTORS®

Dated: August 3 2020

Views: 245

Experts Weigh-In on the Remarkable Strength of the Housing Market | MyKCM

America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways.

Even with all of that uncertainty, the residential real estate market continues to show great resilience. Here’s a look at what the experts have said about the housing market over the past few weeks.

Ivy Zelman, CEO of Zelman & Associates:

“Whether in terms of pending contract activity or our proprietary buyer demand ratings, the various measures of demand captured in this month’s survey can only be described as shockingly strong, in spite of the resurgence in COVID-19 cases.”

Logan Mohtashami, Lead Housing Analyst at HousingWire:

“Existing home sales are still down year over year by 11.3%, but as crazy as this might sound, we have a shot at getting positive year-over-year growth…We may see an existing home sales print of 5,510,000 in 2020.”

Matthew Speakman, Zillow Economist:

“In a remarkable show of resilience, the housing market has stared the pandemic right in the eye and hasn’t blinked.”

Todd Teta, Chief Product Officer for ATTOM Data Solutions:

“The housing market across the United States pulled something of a high-wire act in the second quarter, surging forward despite the encroaching economic headwinds resulting from the Coronavirus pandemic.”

Ali Wolf, Chief Economist of 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.”

Clare Trapasso, Senior News Editor of realtor.com:

“Despite the crippling and ongoing coronavirus pandemic, millions out of work, a recession, a national reckoning over systemic racism, and a highly contentious presidential election just around the corner, the residential real estate market is staging an astonishing rebound.”

Bill Banfield, EVP of Capital Markets at Quicken Loans:

“The pandemic has not stopped the consistent home price growth we have witnessed in recent years.”

Economic & Strategic Research Group at Fannie Mae:

Recent home purchase measures have continued to show remarkable strength, leading us to revise upwardour home sales forecast, particularly over the third quarter. Similarly, we bumped up our expectations for home price growth and purchase mortgage originations.”

Mark Fleming, Chief Economist at First American:

“It seems hard to deny that when one looks at many of the housing market statistics, a “V” shape is quite apparent.”

Bottom Line

The experts seem to agree that residential real estate is doing remarkably well. If you’re thinking of jumping into the housing market (whether buying or selling), this may be the perfect time.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Blog author image

Yamilet Berlingeri

Allowed me to introduce myself, My name is "Yamy". I am a Licensed Real Estate Person who's Job is described as the Administrative Support Assistant and Office Manager at HOMEVETS REALTY, LLC. I am ....

Latest Blog Posts

Today’s Real Estate Market Explained Through 4 Key Trends - HOMEVETS REALTY - Giving you the honesty You Deserve!

As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both

Read More

Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too? - HOMEVETS REALTY

Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in,

Read More

3 Charts That Show This Isn’t a Housing Bubble - HOMEVETS REALTY - Get with the Experts!

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is

Read More

What You Should Do Before Interest Rates Rise - HOMEVETS REALTY - Making the Difference!

In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s

Read More