Three of the Latest Reports Show Housing Market Is Strong
The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three
separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one.
1. Ivy Zelman’s Real Estate Broker Survey
The survey explains that purchaser demand remains strong:
“This month’s overall homebuyer demand rating…was easily the strongest sequential gain in
our survey history…Strength continues to be led by the entry-level…While high-end demand is
less robust in an absolute sense, there has also been relative improvement, with contacts
attributing incremental improvement to the stock market’s rebound, record low mortgage rates
and luxury customers trading out of high-priced cities.”
2. The National Association of Home Builders Housing Market Index
The index reveals that builder confidence has returned to levels last seen prior to the pandemic:
“In a strong signal that the housing market is ready to lead a post-COVID economic
recovery, builder confidence in the market for newly-built single-family homes jumped 14 points
to 72 in July, according to the latest National Association of Home Builders/Wells Fargo Housing
Market Index (HMI). The HMI now stands at the solid pre-pandemic reading in March before
the outbreak affected much of the nation.”
3. The realtor.com Housing Market Recovery Index
This index leverages a weighted average of four key components of the housing industry, tracking each of the following:
1-Housing Demand – Growth in online search activity
2-Home Price – Growth in asking prices
3-Housing Supply – Growth of new listings
4-Pace of Sales – Difference in time-on-market
It then compares the current status “to the last week of January 2020 market trend, as a baseline for pre-COVID market growth. The
overall index is set to 100 in this baseline period. The higher a market’s index value, the higher its recovery and vice versa.”
The latest results came in at 101, with realtor.com explaining:
“The U.S. Housing Market has recovered from the immediate disruption caused by the COVID
pandemic and returned to January 2020 growth levels.”
Bottom Line
Real estate brokers, home builders, and industry data all agree that the housing market has surged back to pre-COVID levels,
showing growth, strength, and incredible resilience.
Liliana Reeves P.A, REALTOR|📲 305-609-3525 | Liliana.Reeves@GMail.com | www.LilianaReeves.com
“Selling Your Home Is My Business and Finding Your Next Home Is Too”