Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The 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 The index 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.” According to this report, the housing market is showing promising signs of recovery from the deep economic cuts we experienced earlier this spring. As noted by Dean Mon, Chairman of the National Association of Home Builders (NAHB), “As the nation reopens, housing is well-positioned to lead the economy forward.” The data today indicates the housing market is already on the way up. Staying connected to the housing market’s performance over the coming months will be essential as we continue to evaluate exactly how the housing market is doing in this uncharted time ahead. DM me if you have questions about how expert projections can influence your position to buy or sell a home this year. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters

Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The 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 The index 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.” According to this report, the housing market is showing promising signs of recovery from the deep economic cuts we experienced earlier this spring. As noted by Dean Mon, Chairman of the National Association of Home Builders (NAHB), “As the nation reopens, housing is well-positioned to lead the economy forward.” The data today indicates the housing market is already on the way up. Staying connected to the housing market’s performance over the coming months will be essential as we continue to evaluate exactly how the housing market is doing in this uncharted time ahead. DM me if you have questions about how expert projections can influence your position to buy or sell a home this year. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters
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