Where COVID-19 Has Not Peaked, U.S. Housing Markets Show Signs of Recovery
Seattle: The first reported epicenter of the U.S. coronavirus outbreak, it was also the first metro in our analysis to flatten the curve--in late March--thanks to early social distancing and testing. Both housing supply and demand are strengthening here.
https://www.worldpropertyjournal.com/real-estate-news/united-states/seattle/real-estate-news-redfin-coronavirus-housing-data-covid-19-impact-on-the-us-housing-market-home-sales-report-april-2020-11935.php
______________________________________________________________________________________________________________
Zillow survey forecasts suburban boom as remote workers flee pricey cities in search of bigger homes
The Seattle real estate tech companies that have spent the past several years reporting on how attractive and hot tech hubs like Seattle, Silicon Valley and elsewhere are have shifted gears during the COVID-19 pandemic. The darlings of the latest real estate projections are secondary cities, the exurbs, bigger homes and more space.
https://www.geekwire.com/2020/zillow-survey-forecasts-suburban-boom-remote-workers-flee-pricey-cities-search-bigger-homes/
______________________________________________________________________________________________________________
High-end homes continue to sell during the coronavirus but some at deep discount
“There has been an attempt to look for one answer for the marketplace but the reality is each seller, each buyer, each location, each home and each transaction is so different,”
https://www.oregonlive.com/realestate/2020/05/high-end-homes-continue-to-sell-during-the-coronavirus-but-some-at-deep-discount.html
______________________________________________________________________________________________________________
Housing market will bounce back this year, but the rebound will be short-lived
Prospective buyers will turn to secondary markets
https://www.housingwire.com/articles/realtor-com-housing-market-will-bounce-back-this-year-but-the-rebound-will-be-short-lived/
______________________________________________________________________________________________________________
Zillow economist says housing crash like Great Recession unlikely
Skylar Olsen, senior principal economist at Zillow, expects home prices to fall gradually by 2% to 3% by October
https://katu.com/news/after-the-outbreak/zillow-economist-says-housing-crash-like-great-recession-unlikely
______________________________________________________________________________________________________________
Mortgage rates settle near historic lows as the purchase market begins to pick up
Mortgage rates have held steady for the past three weeks, a remarkably calm period after early spring’s wild swings
https://www.washingtonpost.com/business/2020/05/14/mortgage-rates-settle-near-historic-lows-purchase-market-begins-pick-up/
______________________________________________________________________________________________________________
Homebuying perks up as interest rates stay close to record lows, COVID lockdowns ease
Lenders are still offering some of history's lowest mortgage rates this week: The average for a 30-year home loan has risen just slightly off last week's all-time low in a widely followed survey that's been going on for nearly half a century.
https://finance.yahoo.com/news/mortgage-rates-stay-close-record-104208265.html
______________________________________________________________________________________________________________
West Seattle Bridge closure doubles commute time for doctor treating COVID-19 patients
“Right now with no traffic and the roundabout way, so going south on Marginal and picking up the First Avenue Bridge, it’s an hour for sure and that’s with no traffic,”
https://q13fox.com/2020/05/13/west-seattle-bridge-closure-doubles-commute-time-for-doctor-treating-covid-19-patients/
______________________________________________________________________________________________________________
Seattle’s Multifamily Market is Outperforming Other CRE Asset Classes
“The most surprising aspect of this pandemic so far is the resiliency of the apartment sector, especially in markets such a Seattle where the sector remains extremely strong,”
https://www.globest.com/2020/05/15/seattles-multifamily-market-is-outperforming-other-cre-asset-classes/?slreturn=20200415112332
______________________________________________________________________________________________________________
Zillow market forecast: Home prices estimated to drop up to 3%, sales drop by 60%
Real estate agents can scan a property almost as easily as taking photos with their iPhone, to create and publish an accurate 3D digital twin of a property listing. Matterport, the industry leader in 3D capture and spatial data, today released Matterport for iPhone, a breakthrough way to create, edit, and share high fidelity 3D digital twins of any physical space
https://www.aithority.com/apps/matterport-brings-3d-capture-to-the-iphone/
______________________________________________________________________________________________________________
Is now a good time to buy a home?
Despite the list of evolving challenges, one thing that is still true this buying season is that there’s a lot of pent-up demand. Although some of the conventional thinking on what makes now a good time to buy still remains true, there are new factors for home shoppers to consider, especially since the last recession was drastically different than this one.
https://www.housingwire.com/articles/is-now-a-good-time-to-buy-a-home/
__________________________________________________________________________________________________________
How the coronavirus pandemic is reshaping the economics of home buying
Prospective homebuyers and homeowners who want to refinance should anticipate more stringent documentation requirements, tighter credit standards and more limited choices for loans due to the quick financial downturn from the economic shutdown.
https://www.seattletimes.com/business/real-estate/how-the-coronavirus-pandemic-is-reshaping-the-economics-of-home-buying/
______________________________________________________________________________________________________________
Coronavirus Has Upended the Real Estate Market. What It Could Mean for the Value of Your Home.
Yes, the economic news has been grim, and it would seem the pandemic that has confined people to their homes could also threaten the stability of this key segment of the economy.
https://www.barrons.com/articles/home-prices-are-likely-to-hold-up-just-fine-despite-coronavirus-51588970507
______________________________________________________________________________________________________________
Will COVID-19 Change Last Year’s Home-Buying Trends? NAR Report Sheds Light on the 2019 Market
Homebuyer trends have shifted since the novel coronavirus began to impact the economy, and for many Americans, that includes changes to job status and, therefore, home-buying affordability. While new hurdles to homeownership are in play, however, the previous year’s trends should not go forgotten, as they could still help shed light on the future of the industry.
https://rismedia.com/2020/04/20/will-covid-19-change-last-years-home-buying-trends-nar-report-sheds-light-on-the-2019-market/
______________________________________________________________________________________________________________
Applications to buy homes rise for fourth week
An index tracking mortgage applications to buy single-family homes continued its upward trajectory with a seasonally adjusted 11 percent gain last week compared to the prior week.
https://therealdeal.com/miami/2020/05/13/applications-to-buy-homes-rise-for-fourth-week/
______________________________________________________________________________________________________________
Coronavirus Has Some Buyers Purchasing Homes Without Setting Foot Inside Them
The growing trend of using Facetime and Zoom to make home-buying decisions may continue after the pandemic
https://www.wsj.com/articles/coronavirus-has-some-buyers-purchasing-homes-without-setting-foot-inside-them-11589459471
______________________________________________________________________________________________________________
2020 Poised to Be a Year of Ups and Downs for Real Estate Amid Covid-19
Market expected to get healthier in late summer before dipping again later in year
https://www.mansionglobal.com/articles/2020-poised-to-be-a-year-of-ups-and-downs-for-real-estate-amid-covid-19-214859
______________________________________________________________________________________________________________
Shelter-in-Place: 4 Luxurious Spaces Where the Rich Self-Quarantine
In today’s challenging times, personal safety and the safety of your family, is a top priority. Some of the world’s super-rich have installed aesthetically pleasing panic rooms to wait out any impending disaster.
https://www.jetsetmag.com/real-estate/shelter-in-place-4-luxurious-spaces-where-the-rich-self-quarantine/
______________________________________________________________________________________________________________
Weekly Housing Market Monitor
NAR Research compiles the latest housing market data in this weekly monitor, based on what REALTORS® are seeing in their market, mortgage data, jobless claims, foot traffic, and the latest home sales numbers.
https://www.nar.realtor/research-and-statistics/research-reports/weekly-housing-market-monitor
______________________________________________________________________________________________________________
Market Hotness Index
Metro Hotness - Zip Code and County Hotness
https://www.realtor.com/research/reports/hottest-markets/
______________________________________________________________________________________________________________
HOUSING STATISTICS
Housing Statistics offers 43 different sets of data, downloadable either as Excel or PDF files (updated weekly). Housing data and primary indicators of the industry are housed in one easy-to navigate location containing historical and current sets of statistics such as: Housing Starts (by Region & Structure Type), Homes Sold by Region, Producer Price Indexes (for Building Materials), Manufactured Homes, New Home Characteristics, Residential Vacancy & Absorption Rates, Units Under Construction, Value of New Construction, and many more.
http://www.nahbclassic.org/reference_list.aspx?sectionID=819&channelID=311
______________________________________________________________________________________________________________
Economic Indicators
U.S. Census Bureau Economic Indicators
https://www.census.gov/economic-indicators/
______________________________________________________________________________________________________________
CoreLogic Home Price Insights
The most geographically comprehensive and current home price index.
http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx?WT.mc_id=crlg_151103_aHqc0&elq=d6379903117d41bcbe7b9f6a82f2189a&elqCampaignId=2692&elqaid=7659&elqat=1&elqTrackId=097f671c98fc48249757d8ddbd229326#.Vj1WlvnnuUl
______________________________________________________________________________________________________________
Bureau of Economic Analysis
U.S. Economy at a Glance
http://www.bea.gov/index.htm
______________________________________________________________________________________________________________
Mortgage Market Survey Archive
Compilation of Weekly Survey Data for 2015
http://www.freddiemac.com/pmms/archive.html
______________________________________________________________________________________________________________
Housing Economics
NAHB produces in-depth economic analyses of the home building industry based on private and government data. Our economics group surveys builders, home buyers, and renters to gain insight into the issues and trends driving the industry.
https://www.nahb.org/en/research/housing-economics.aspx