Monthly Real Estate Market Report

Monthly Real Estate Market Report

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The monthly real estate market report according to Keeping Current Matters.

The reports covering unemployment, loss of life, and the pros and cons of social distancing encompass our daily lives.  Once a month KCM hosts a monthly broadcast detailing the latest housing, economic, and unemployment data. Listen to the audio report.  Highlights included national data from ShowingTime , the software most Realtors® use to set showing appointments. 

According to ShowingTime data showings have picked up nationally.  The chart below tracks closely with local stats.

Unemployment numbers are scary but KCM broke the numbers down into understandable groups.  It seems likely as businesses open slowly and safely a portion of the largest group of the unemployed will return to the their jobs.  Hopefully, other segments will follow suit during the summer months.

Unlike the last economic meltdown which was driven by a failing housing market, American homeowners have more equity in their homes today.

In 2008 many buyers were using their homes as ATM machines.  Closing and And a whopping 42% have no mortgages at all.  The biggest problem with today’s housing market remains the lack of inventory!  The problem existed before COVID-19 and concerns about spreading the virus have limited sellers jumping into the market.  Recovery predictions are all over the place but if the jump in showings is any indicator the housing market will probably be on the front edge of the recovery

Stay tuned.