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The economists at ITR Economics report that nine of the top dozen leading indicators for the macroeconomy are rising from April 2020 lows. “This is an encouraging sign that the economy is starting to thaw,” the article states, “and bodes well for our expectation that the green shoots of recovery will grow into something more meaningful in the second half of this year.”
Recent data from Redfin shows home sale prices were up by the largest increase in over six years, continuing the climb month over month and bucking typical seasonality. According to the article, a staggering “46% of homes had an accepted offer within the first two weeks on the market, the highest level since at least 2012 (as far back as our data on this measure goes).”
The current COVID-19 pandemic has made significant changes to buyer behavior and sentiment within the real estate industry. One shift that has the potential to be long-lasting is the growing trend of consumers opting for single-family homes in suburban, less densely populated areas. Find out what this new wave of buyers is looking for and how you could get ahead of the demand.
According to HousingWire analyst Logan Mohtashami, a “V-shaped recovery Is no longer a question. The Census report on new construction showed a whopping 22.6% increase above the revised June estimate in housing starts in July. Year-over-year starts are up 23.4%.” He goes on to state that August reports for new and existing home sales “will seal the deal on the housing V-shape recovery.”
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