flexiblefullpage - default
Currently Reading

Is the Housing Market Recovering? Too Early to Tell, Real Estate Consultant Says

Advertisement
billboard - default

Is the Housing Market Recovering? Too Early to Tell, Real Estate Consultant Says


May 8, 2020
Aerial of neighborhood houses
By Mario

Search activity and loans for purchase volume are up, but does that mean the housing market is making a recovery? Though these are positive signs, real estate consultant Mike DelPrete says it is too early to tell. As great as it is that people are looking at homes, that does not necessarily mean they’re looking for a home or are ready to buy. Because we don't have a full set of comparable data for April yet, it is very hard to get a full understanding of current market conditions since surveys go out at different times. And DelPrete reiterates an important fact to keep in mind: There is not true national housing market. A recovery in one state or city does not mean that one that was harder hit by the virus will be at the same pace. 

As the United States enters its third month under the COVID-19 pandemic, glimmers of hope have emerged in the housing market that suggest that after the pandemic passes, a housing market recovery won’t be too far behind.

Listings platforms like Redfin and Zillow highlight normalizing web traffic to their sites as hints that buyers are ready to shop once again. A jump in weekly mortgage applications goes even further, suggesting shoppers are already prepared to buy.

A number of recent headlines have hinted that the housing recovery is already underway, powered by press releases from companies like Redfin (which have an incentive to keep investor sentiment positive). But cherry picking individual or even a handful of data can lead to spurious conclusions about the current state of the housing market. Housing data as a whole is decidedly mixed and practically impossible to string together into a clear narrative.

Read More
 

Advertisement
leaderboard2 - default

Related Stories

Business Management

How 2023's Housing Market Conditions Are Affecting the 2024 Market

Last year ended on an optimistic note, but persistent headwinds still exist to keep 2024 from getting the housing market back to pre-pandemic levels

Economics

Mortgage Applications Increase Week-Over-Week, but Rates Remain a Challenge for Buyers

Data from the Mortgage Bankers Association show slight signs of optimism in national housing market

Government + Policy

Housing Affordability Becomes Debate Topic in 2024 Presidential Election

Presidential candidates are tackling affordability issues as home price-to-income ratio reaches record high

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Home builders can maximize efficiencies gained through simplification and standardization by automating both on-site and back-office operations 

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.