Skip To Content
    • Home
    • For Buyers
    • Experts Weigh-In on the Remarkable Strength of the Housing Market

    Experts Weigh-In on the Remarkable Strength of the Housing Market

    Experts Weigh-In on the Remarkable Strength of the Housing Market | Simplifying The Market

    America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways.

    Even with all of that uncertainty, the residential real estate market continues to show great resilience. Here’s a look at what the experts have said about the housing market over the past few weeks.

    Ivy Zelman, CEO of Zelman & Associates:

    “Whether in terms of pending contract activity or our proprietary buyer demand ratings, the various measures of demand captured in this month’s survey can only be described as shockingly strong, in spite of the resurgence in COVID-19 cases.”

    Logan Mohtashami, Lead Housing Analyst at HousingWire:

    “Existing home sales are still down year over year by 11.3%, but as crazy as this might sound, we have a shot at getting positive year-over-year growth…We may see an existing home sales print of 5,510,000 in 2020.”

    Matthew Speakman, Zillow Economist:

    “In a remarkable show of resilience, the housing market has stared the pandemic right in the eye and hasn’t blinked.”

    Todd Teta, Chief Product Officer for ATTOM Data Solutions:

    “The housing market across the United States pulled something of a high-wire act in the second quarter, surging forward despite the encroaching economic headwinds resulting from the Coronavirus pandemic.”

    Ali Wolf, Chief Economist of Meyers Research:

    “The housing recovery has been nothing short of remarkable. The expectation was that housing would be crushed. It was—for about two months—and then it came roaring back.”

    Clare Trapasso, Senior News Editor of realtor.com:

    “Despite the crippling and ongoing coronavirus pandemic, millions out of work, a recession, a national reckoning over systemic racism, and a highly contentious presidential election just around the corner, the residential real estate market is staging an astonishing rebound.”

    Bill Banfield, EVP of Capital Markets at Quicken Loans:

    “The pandemic has not stopped the consistent home price growth we have witnessed in recent years.”

    Economic & Strategic Research Group at Fannie Mae:

    Recent home purchase measures have continued to show remarkable strength, leading us to revise upward our home sales forecast, particularly over the third quarter. Similarly, we bumped up our expectations for home price growth and purchase mortgage originations.”

    Mark Fleming, Chief Economist at First American:

    “It seems hard to deny that when one looks at many of the housing market statistics, a “V” shape is quite apparent.”

    Bottom Line

    The experts seem to agree that residential real estate is doing remarkably well. If you’re thinking of jumping into the housing market (whether buying or selling), this may be the perfect time.

    Comments are closed.

    About our blog

    Ranked #1 Realtor in Tampa by U.S. News and World Report.

    Doug, Annette & Dale Bohannon

    Team Bohannon Real Estate Experts

    Keller Williams Tampa Properties
    Tampa, Florida

    (813) 979-4963

    If you're looking for a trusted partner who exceeds expectations, reduces stress, fulfills promises, and is on top of all the details, consider Tampa's Top Real Estate Team: Doug, Annette and Dale Bohannon when buying or selling your home, call us today at 813-979-4963

    Contact Us Now

    Any questions, comments, or feedback