{"id":1109,"date":"2020-09-16T15:41:23","date_gmt":"2020-09-16T15:41:23","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=1109"},"modified":"2020-09-16T15:41:23","modified_gmt":"2020-09-16T15:41:23","slug":"surging-real-estate-market-continues-climb","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/surging-real-estate-market-continues-climb\/","title":{"rendered":"The Surging Real Estate Market Continues to Climb"},"content":{"rendered":"
\"\"

The Surging Real Estate Market Continues to Climb<\/p><\/div>\n

Earlier this year,\u00a0realtor.com<\/em>\u00a0announced the release of the\u00a0Housing Recovery Index<\/a>, 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 by tracking each of the following:<\/p>\n

    \n
  1. Housing Demand<\/strong>\u00a0\u2013 Growth in online search activity<\/li>\n
  2. Home Price<\/strong>\u00a0\u2013 Growth in asking prices<\/li>\n
  3. Housing Supply<\/strong>\u00a0\u2013 Growth of new listings<\/li>\n
  4. Pace of Sales<\/strong>\u00a0\u2013 Difference in time-on-market<\/li>\n<\/ol>\n

    The index compares the current status\u00a0\u201cto the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market\u2019s index value, the higher its recovery and vice versa.\u201d<\/em><\/p>\n

    The graph below charts the index by showing how the real estate market started out strong in early 2020, and then dropped dramatically at the beginning of March when the pandemic paused the economy. It also shows the strength of the recovery since the beginning of May.<\/p>\n

    \"\"

    Housing Market Recovery Index<\/p><\/div>\n

    Today, the index stands at its highest point all year, including the time prior to the economic shutdown.<\/p>\n

    The Momentum Is Still Building<\/strong><\/h4>\n

    Though there is some evidence that the overall economic recovery may be slowing, the housing market is still gaining momentum.\u00a0Zillow<\/em>\u00a0tracks the number of homes that are put into contract on a weekly basis. Their\u00a0latest report<\/a>\u00a0confirms that buyer demand is continuing to dramatically outpace this same time last year, and the percent increase over last year is growing.<\/p>\n

    \"\"

    Percent Change in Newly Pended Deals<\/p><\/div>\n

    Clearly, the housing market is not only outperforming the grim forecasts from earlier this year, but it is also eclipsing the actual success of last year.<\/p>\n

    Frank Martell,\u00a0President and CEO<\/em>\u00a0of\u00a0CoreLogic<\/em>,\u00a0explains<\/a>\u00a0it best:<\/p>\n

    \u201cOn an aggregated level,\u00a0the housing economy remains rock solid<\/strong>\u00a0despite the shock and awe of the pandemic.\u201d<\/em><\/p><\/blockquote>\n

    Bottom Line<\/strong><\/h3>\n

    Whether you\u2019re considering buying or selling, staying on top of the real estate market over the coming months will be essential to your success.<\/p>\n

    Contact us:<\/strong>
    \nPHP Houses
    \n142 W Lakeview Ave
    \nUnit 1030
    \nLake Mary, FL 32746
    \nPh:\u00a0(407) 519-0719<\/span>
    \nFax:\u00a0(407) 205-1951<\/span>
    \nemail:\u00a0info@phphouses.com<\/p>\n

    Let\u2019s Connect:<\/strong>
    \n    Facebook<\/a>
    \n    Linkedin<\/a>
    \n    Twitter<\/a>
    \n    Instagram<\/a><\/p>\n

    THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

    Though there is some evidence that the overall economic recovery may be slowing, the housing market is still gaining momentum. Finish Reading The Surging Real Estate Market Continues to Climb<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,15,167,10,18,49,42,40,63,20,12,48,68,47,19],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1109"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1109"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1109\/revisions"}],"predecessor-version":[{"id":1114,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1109\/revisions\/1114"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}