Covid-19

Covid-19

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: Housing Demand – Growth in online search activity Home Price – Growth in asking […]
Covid-19

Is a Recession Here? Yes. Does that Mean a Housing Crash? No.

On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, […]
Covid-19

Three Things to Understand About Unemployment Statistics

Tomorrow morning the Bureau of Labor Statistics will release the latest Employment Situation Summary, which will include the most current unemployment rate. It will be a horrific number. Many analysts believe unemployment could be greater than 20%. These numbers represent families across the nation that are not sure when (or if) they will return to work. The emotional […]
Covid-19

Home Prices: It’s All About Supply and Demand

As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come. Making our way through the month of […]

Covid-19 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: Housing Demand – Growth in online search activity Home Price – Growth in asking […]

Covid-19 Is a Recession Here? Yes. Does that Mean a Housing Crash? No. On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the Bureau defines a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, […]

Covid-19 Three Things to Understand About Unemployment Statistics Tomorrow morning the Bureau of Labor Statistics will release the latest Employment Situation Summary, which will include the most current unemployment rate. It will be a horrific number. Many analysts believe unemployment could be greater than 20%. These numbers represent families across the nation that are not sure when (or if) they will return to work. The emotional […]

Covid-19 Home Prices: It’s All About Supply and Demand As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come. Making our way through the month of […]

Buyers Will the Housing Market Turn Around This Year? Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the economy will turn around. If […]

Buyers Will Home Values Appreciate or Depreciate in 2020? With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item. Each month the National Association of Realtors (NAR) surveys […]

Covid-19 Confused About the Economic Recovery? Here’s Why. As we continue to work through the health crisis that plagues this country, more and more conversations are turning to economic recovery. While we look for signs that we’ve reached a plateau in cases of COVID-19, the concern and fear of what will happen as businesses open up again is on all of our minds. […]

Covid-19 U.S. Homeownership Rate Rises to Highest Point in 8 Years For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many of us have also found a sense of comfort by slowing down and spending time […]

Covid-19 Buying a Home Right Now: Easy? No. Smart? Yes. Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed: “The March ShowingTime Showing […]

Covid-19 Will COVID-19 Affect the Value of my Home in Gig Harbor? A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available […]

Covid-19 The Impact of COVID-19 on 30 Year Mortgages

Covid-19 What If I Need to Sell My Gig Harbor Home Now? What Can I Do? Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic. If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like […]

Covid-19 Will Surging Unemployment Crush Home Sales? Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the […]

Covid-19 The Housing Market Is Positioned to Help the Economy Recover Some Highlights Expert insights are painting a bright future for housing when the economy bounces back – and it will. We may be facing challenging economic times today, but the housing market is poised to help the economy recover, not drag it down. Let’s connect to make sure you’re informed and ready when it’s time to […]