If you need assistance, please call 971-208-5093

Three of the Latest Reports Show Housing Market Is Strong

Monday, July 27, 2020   /   by Amy McLeod

Three of the Latest Reports Show Housing Market Is Strong


The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 

1. Ivy Zelman’s Real Estate Broker Survey 

The survey explains that purchaser demand remains strong: 

“This month’s overall homebuyer demand rating…was easily the strongest sequential gain in our survey history…Strength continues to be led by the entry-level…While high-end demand is less robust in an absolute sense, there has also been relative improvement, with contacts attributing incremental improvement to the stock market’s rebound, record low mortgage rates and luxury customers trading out of high-priced cities.” 

2. The National Association of Home Builders Housing Market Index 

The index reveals that builder confidence has returned to levels last seen prior to the pandemic: 

“In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI now stands at the solid pre-pandemic reading in March before the outbreak affected much of the nation.” 

3. The realtor.com Housing Market Recovery Index 

This 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 

  1. Home Price – Growth in asking prices 

  1. Housing Supply – Growth of new listings 

  1. Pace of Sales – Difference in time-on-market 

It 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 latest results came in at 101, with realtor.com explaining: 

“The U.S. Housing Market has recovered from the immediate disruption caused by the COVID pandemic and returned to January 2020 growth levels.” 

Bottom Line 

Real estate brokers, home builders, and industry data all agree that the housing market has surged back to pre-COVID levels, showing growth, strength, and incredible resilience. Contact The McLeod Group Network at (971) 208.5093 for ALL your Real Estate needs! 

By: KCM Crew 

  amy mcleod, mcleod group network, homeowners, homebuyers, home values, home prices, housing market updates, coronavirus, covid19

The McLeod Group Network - KW Capital City
Amy McLeod
1825 12th St SE. #140
Salem, OR 97302
Lighthouse Home Loans.png
Lighthouse Mortgage
Phil Gerstner
110 Wallace Rd. NW
Salem, OR 97304
NMLS# 291931

Traci Benjamin
Churchill Mortgage
Sales Manager, AVP
NMLS 111736
Direct: 503-751-2288
Cell: 503-932-5511

image001 (2).png
Aaron Memmott
Finance of America
Mortgage Advisor
NMLS# 1048117
Direct: (503) 718-9876
Cell: (503) 551-1115
Fax: (855) 639-2956

Caliber Home Loans logo.jpg
Elizabeth Smith
Caliber Home Loans
NMLS# 228191
Cell: 503-910-0415
eFAX: 844-538-4687

© 2021 Willamette Valley Multiple Listing Service. All rights reserved. The data relating to real estate for sale comes in part from the Willamette Valley Multiple Listing Service. Information contained on this site is deemed reliable but not guaranteed.
This site powered by CINC: www.cincpro.com