COVID-19 Housing Market UpdateThis week, Chief Economist Danielle Hale talks through the National Bureau of Economic Research’s recession determination, the Fed meeting and jobless claims, highlighting the good and bad news in the data. She also mentions what long-lasting high levels of unemployment could mean for younger home buyers, per research from Economic Data Analyst Nicolas Bedo.
Danielle also provides a brief introduction to the team’s NEW Housing Market Recovery Index, what this data says about the housing market now, as well as the Weekly Housing Trends View. In general, asking prices are rising at a pace consistent with pre-COVID rates of growth and buyer demand exceeds pre-COVID growth, but new listings and time on market still lag their early-year growth rates.
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