“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.”
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.”
“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.
To view original article, visit Keeping Current Matters.
Why Moving to a Smaller Home After Retirement Makes Life Easier
As you approach retirement, its important to think about whether your current home still fits your needs.
Why Your Asking Price Matters Even More Right Now
Accurate pricing depends on current market conditions – and only an agent has all information necessary to price your home correctly.
Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008
Inventory levels aren’t anywhere near where they’d need to be for prices to drop significantly and the housing market to crash.
Real Estate Still Holds the Title of Best Long-Term Investment
Homeownership has long been tied to building wealth—and for good reason.
What To Do When Your House Didn’t Sell
If you want an expert’s advice on why your home didn’t sell, rely on a trusted real estate agent.
Do Elections Impact the Housing Market?
While Presidential elections do have some impact on the housing market, the effects are usually small and temporary. For help navigating the market, election year or not, let’s connect.