{"id":894,"date":"2020-06-25T21:17:52","date_gmt":"2020-06-25T21:17:52","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=894"},"modified":"2021-01-26T17:07:13","modified_gmt":"2021-01-26T17:07:13","slug":"new-index-reveals-impact-covid-19-real-estate","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/new-index-reveals-impact-covid-19-real-estate\/","title":{"rendered":"New Index Reveals Impact of COVID-19 on Real Estate"},"content":{"rendered":"
\"\"

New Index Reveals Impact of COVID-19 on Real Estate<\/p><\/div>\n

Earlier this month,\u00a0realtor.com<\/em>\u00a0announced the release of their initial\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, tracking each of the following:<\/p>\n

    \n
  1. Housing Demand\u00a0<\/strong>\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 then compares the current status\u00a0\u201cto the last week of 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

    \"\"

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

    It\u2019s clear to see that the housing market is showing promising signs of recovery from the deep economic cuts we experienced earlier this spring. As noted by Dean Mon,\u00a0Chairman<\/em>\u00a0of the\u00a0National Association of Home Builders<\/em>\u00a0(NAHB<\/a>):<\/p>\n

    \u201cAs the nation reopens, housing is well-positioned to lead the economy forward.\u201d<\/em><\/p><\/blockquote>\n

    The data today indicates the housing market is already on the way up.<\/p>\n

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

    Staying connected to the housing market\u2019s performance over the coming months will be essential, as we continue to evaluate exactly how the housing market is doing in this uncharted time ahead.<\/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":"

    Housing Recovery Index Finish Reading New Index Reveals Impact of COVID-19 on Real Estate<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[123,125,210,174,132,9,49,42,209,12,48],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/894"}],"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=894"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/894\/revisions"}],"predecessor-version":[{"id":897,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/894\/revisions\/897"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}