If you need assistance, please call 352-480-5800

New Index Reveals Impact of COVID-19 on Real Estate

Thursday, August 20, 2020   /   by The Villages Home Search

New Index Reveals Impact of COVID-19 on Real Estate

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.”


The graph below charts the index by showing how the real estate market started out strong in early 2020, and then dropped dramatically at the beginning of March when the pandemic paused the economy. It also shows the strength of the recovery since the beginning of May.New Index Reveals Impact of COVID-19 on Real Estate | Simplifying The MarketIt’s clear to see that 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.


Bottom Line


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.




You might also enjoy reading...




#thevillagesmortgage #thevillagesfl #thevillagesflorida
Fidelity Home Group
352-480-5800
888-259-2257
NMLS ID 1834853
thevillages@fidelityhomegroup.com

Fidelity Home Group is a mortgage corporation and not in the business of selling real estate. The real estate listings are for informational purposes only. Real Estate Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. All rights reserved. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.

Last updated October 23, 2020 Copyright © 2020

Fidelity Home Group participates in Equal Housing Opportunity
Fidelity Home Group Privacy Policy
Fidelity Home Group NMLS consumer access Page

CINC is committed to facilitating the accessibility and usability of all of its websites for all our customers, including people with disabilities. We strive to meet the standards of the World Wide Web Consortium’s Web Content Accessibility Guidelines 2.0 Level AA (WCAG 2.0 AA). That said, to date the Federal Trade Commission, the Federal Communications Commission, and the Department of Justice have not provided clear guidance as to what constitutes full ADA compliance with respect to website accessibility for disabled individuals. Our efforts in this area are ongoing as technology advances and federal guidelines are established.

This site powered by CINC: www.cincpro.com