2020-06-25
New Index Reveals Impact of COVID-19 on Real Estate

New Index Reveals Impact of COVID-19 on Real Estate | MyKCM

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 ped 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 | MyKCMIt’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.

Welcome to our Blog!
2020-09-19
Is Now a Good Time to Move Sarasota?

2020-09-14
Two New Surveys Indicate Urban to Suburban Lean

2020-09-10
Sarasota Homebuyer Traffic Is on the Rise

2020-09-09
The Latest Unemployment Rate Fell to 8.4%

2020-09-08
Have You Ever Seen a Housing Market Like This?

2020-09-04
FSBO Millionaires Use Real Estate Agents

2020-09-03
Sarasota Homebuyer Demand Is Far Above Last Year’s Pace

2020-09-02
How Will the Presidential Election Impact Sarasota Real Estate?

2020-09-01
It’s Not Just About the Price of the Home

2020-08-31
Three Ways to Win in a Sarasota Home Buying Bidding War

2020-08-27
Why Is It so Important to Be Pre-Approved in the Homebuying Process?

2020-08-27
Here’s how to know if you’re ready to sell your Sarasota home!

2020-08-26
July 2020 Sarasota Housing Report

2020-08-26
Should You Buy an Existing Sarasota Home or New Sarasota Construction?

2020-08-25
Builders & Realtors Agree: Sarasota Real Estate Is Back

2020-08-24
The Top Reasons People Are Moving This Year

2020-08-21
How the Sarasota Housing Market Benefits with Uncertainty in the World

2020-08-21
Fix It Up Friday

2020-08-20
Forbearance Numbers Are Lower than Expected

2020-08-19
Just How Strong Is the Sarasota Housing Recovery?

2020-08-18
Sellers Are Returning to the Sarasota Housing Market

2020-08-18
Let It Go! 8 Seller Beliefs That No Longer Hold True Today!

2020-08-17
The Beginning of an Economic Recovery

2020-08-14
Florida's Single Family For-Sale Inventory Hits Record Low in 2Q

2020-08-13
Sarasota Homes Are More Affordable Right Now Than They Have Been in Years

Click here to see ALL articles.




Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.