Heather Zima

A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis.⠀
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53% of Sellers & 47% of Buyers agreed that during the pandemic, relying upon a real estate professional when searching or buying a home is much more important than before.⠀
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Expertise and professionalism are highly valued and can save buyers and sellers time and effort along the way.⠀
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If you’re thinking of buying or selling a home this year, be sure you have a trusted professional on your side.

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.⠀
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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.⠀
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Ali Wolf, Chief Economist, Meyers Research⠀
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“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.”⠀
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Fannie Mae⠀
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“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.”⠀
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Javier Vivas, Director of Economic Research for realtor.com⠀
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“All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels.”⠀
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James Knightley, Chief International Economist, ING⠀
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“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.”⠀
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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.⠀

Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.⠀
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According to the latest Existing Home Sales Report from the NAR total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.⠀
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Why is inventory so low?⠀
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There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of newly constructed homes to sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.⠀
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There are simply not enough houses for sale today. If you’re ready to leverage your equity and sell your house, reach out to a local real estate professional today. It’s a great time to move while demand for homes to buy is extremely high.⠀
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