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The housing market is expected to remain volatile for the remainder of the year and into 2021, according to a report by HouseCanary.
The report no longer sees a V-shaped recovery in the near future because due to the increase in COVID-19 cases around the country and a potential pullback of federal aid from the government.
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As the coronavirus pandemic rages on, the US housing market is becoming less and less likely to see a V-shaped recovery in the coming months.

According to a report by HouseCanary, states with rising COVID-19 cases are serving as the catalyst for seller pullback, resulting in a tightening of supply, while price growth is beginning to plateau.

Coupled with the potential pullback of federal aid from the government, the housing market is on a volatile path for the remainder of the year and into 2021.

For the week ending July 17, the report said, weekly new listings were down 21.9% year-over-year. Over a longer period, from March 13 to July 17, there were 1,055,597 net new listings hitting the market, a 20.3% decrease.

According to the report, “Using a 3-week moving average, we observed that for 31 of 41 states, …read more


Source:: Businessinsider – Life

      

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