5 Trends That Signal Real Estate is Bouncing Back

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Subject: 5 Trends That Signal Real Estate is Bouncing Back

While economic downturns typically aren’t good news for the real estate market, this is the first in American history to result in more people moving. This opportunity is transformative because unlike past cataclysmic events that have limited mobility, this one has increased it — and at Compass, we are helping our clients seize the opportunity.

Everyone is taking this time to reevaluate what they need in a home and in a community and for many, that’s resulting in a desire to move.

Here are 5 trends we’re seeing nationally that indicate the market is making a comeback.

1. Mortgage rates reached an all-time low in July, causing a spike in mortgage applications: finally dropping below 3% after weeks of speculation, rates settled around 2.87% bringing buyers out of the woodwork. There was a 33% increase in mortgage applications for the first week of July vs. this time last year.

Source: Mortgage Bankers Association Index

2. National home sale activity rebounded: Existing-home sales in June rebounded 20.7% month over month, the highest monthly increase ever recorded.

Source: Wall Street Journal

3. Home prices are at all-time highs: Median existing-home prices grew 2.8% to hit an all-time high, for the 100th consecutive month, highlighting the opportune environment for sellers.

Source: National Association of Realtors

4. Homes are selling at the fastest rate ever recorded: 20 average days on market before sale.

Source: Inman

5. Homebuilder sentiment is at 72: Increasing by 14 points in July, the last time we had a yearly average as high as 72 was in 1999.

Source: National Association of Homebuilders

2020 can be an opportunity to reset your life. If you’re interested in a more detailed look at how the market has been performing in your neighborhood, let us know. We'd be happy to provide you with our insight into the ever-changing real estate landscape, especially in the Covid-19 era.

Call us today for a complimentary TeleConsult at 844.782.9674.

We’re here to help make the rest of your life, the best of your life!

Ron & Patti

Greenwald & Gerke

Realty Team

Ron Greenwald

Broker Associate, MBA, SRES

m. 760.390.0149 | DRE 01264025

Patti Gerke

MBA, SRES, CRS

m. 760.525.7269 | DRE 01386269

info@greenwaldgerke.com

Compass is a real estate broker licensed by the state of California and abides by equal housing opportunity laws. License number 01527365. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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Subject: 5 Trends That Signal Real Estate is Bouncing Back