Coronavirus: Which Housing Markets Are Recovering?
Tight Housing Inventory & Historically-Low Mortgage Rates Fuel the U.S. Housing Recovery
A recent report from Realtor.com indicates that as states slowly reopen their economy, the once-stagnant housing market has begun to surge. Two contributing factors to this rise can be pinpointed to the 30-Year Mortgage Rates hitting historic lows (2.86 percent) and a more competitive housing market due to limited housing inventory — which can be seen as far back as 2019.
These two forces, combined with the pushback of typical housing seasonality behaviors, are leading over half the top 50 U.S. cities to score above the average on the “Housing Market Recovery Index.” Read More