Is the Housing Market Picking UP?

by | May 21, 2020 | Beth's Blog

It’s easy to hear the “gloom and doom” from the local news outlets, but there is often good news that is not reported. For example, nationally the housing market is picking up. Zillow reports new listings grew 5.9% week-over-week, with the hard hit highest price tier up 8%. New listings are still down annually, but have gained now three weeks in a row. Also growing smaller are the year-over-year declines in purchase mortgage applications. Week-over-week, national purchase mortgage activity has shown gains of 12% and 6% the past two weeks. A new study reveals Google searches for “homes for sale” in 50 metros increased an average of 54% from 2020 lows. Freddie Mac’s chief economist notes, “Today’s purchase demand is only down 10% from a year ago.”

We all are feeling the pinch of these challenging times but we do not need to lose hope. I believe that real estate can be a leading indicator of our economic recovery especially in DFW. In my blog last week, I noted the strength in DFW and we look forward to that continuing.

So, if you would like to be part of this recovery and want to sell, buy or invest, please give me a call at 214-769-2947. I would love to discuss your goals and help you find a great solution.

Have a great week!

Beth Brake-Team Lead/Realtor