Second Half Report Of The Market For 2020

Second Half Report Of The Market For 2020

We have had a dazzling second half of 2020

The summer housing market was something to behold. Experts point the three factors to explain why the market is booming:

historically low interest rates, the new demand for homes to accommodate remote working and a very tight supply of resale properties. 


"We missed the spring buying season because of the pandemic, but the second half of the year looks quite dazzling," says the chief economist for the National Association of Realtors. 

Consider these statistics from NAR:

  • Home sales rose nearly 25% from June to July, the strongest monthly gain on records. 

  • 68% of homes sold in July were on the market for less than a month.

  • Existing homes sales are currently expected to reach a 1.1% gain over last year as compared to the 15% decline originally projected during the early days of the COVID-19 shutdowns. 



Karin Waterschoot-Perez Headshot
Author:
Phone: 614-774-1741
Dated: November 2nd 2020
Views: 197
About Karin: Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves ...

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