Commercial real estate firms are beginning to implement lessons learned from the COVID-19 pandemic and create targeted measures to emerge stronger in the medium-term, according to Jim Berry, U.S. real estate leader at Deloitte & Touche LLP.
Homebuilders say new homes for the rental market could help respond to housing affordability and down payment challenges.
More house hunters are reportedly looking for homes with a pool and outdoor areas during the coronavirus pandemic.
While selling prices are remaining constant, the process of selling is taking longer as COVID-19 cautions persist.
Low rates are giving potential buyers “a good reason to continue shopping even amid the pandemic,” says Freddie Mac’s chief economist.
FRED keeps adding new data.* The latest batch is detailed data on the housing market from Realtor.com. The FRED graph above shows the well-known seasonal pattern in the number of properties actively on sale: The real estate market is much thinner in the winter, and sellers often wait for spring to put their properties up for sale.
But not everyone can wait. Financial circumstances, job-related moves, or new family situations may force an owner to put a house up for sale at a moment that’s not optimal. On the other side of the market, job or family circumstances may force some people to look for a house when it’s not the best time to do so.
It turns out the first story is more common: that is, too many sellers chasing too few buyers (at least in relative terms). This imbalance leads to lower prices in the winter, as we can see
Record low mortgage rates will likely be a key factor in driving housing demand as state economies gradually reopen. Read more from NAR’s latest housing report.