Key Highlights

  • Realtor.com looks at how markets are recovering as states begin to re-open
  • Realtorcom compiled “recovery index” that includes online search activity growth, number of new listings, asking prices and time on the market
  • Market gains are variable across country

The real estate market is “recovering” from the market standstill that hit the country with the pandemic outbreak and restrictions associated with the outbreak.

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Like all else in real estate, location matters when it comes to “recovery.” Realtor.com put together a “recovery index” to get a handle on how, which and where recovering markets are doing and have come up with a list for both Most and Least recovering Housing Markets.

Realtor.com the number 100 as a pre-pandemic baseline number – markets earning scores of more than 100 were considered to be “recovering markets” and markets earning scores of less than 100 were considered to be lagging behind pre-pandemic levels. Realtor.com used the following metrics that, when combined, earned each housing market its “recovering” score:

  • Growth in online search activity
  • Number of new listings
  • Asking prices
  • Time on the market

Clearly, record-low interest rates are driving sales and record-low inventory is defining the market as a seller’s market. States in the Northeast and West are showing the most “recovery” while the South and Midwest are dealing with an uptick in COVID cases, pandemic restrictions and re-closings, and economic uncertainty.

Take a look at realtor.com’s MOST and LEAST Recovery Index Scores for housing markets around the country:

Most-Recovered Markets with adjacent recovery interest scores as of July 11:

  1. Seattle 115.5
  2. Boston 114.1
  3. Denver 109.3
  4. Philadelphia 109.2
  5. New York 108.1
  6. Los Angeles 108.1
  7. Las Vegas 107.3
  8. San Francisco 106.1
  9. San Diego 106.0
  10. Washington DC 105.6

Least-Recovered Markets with adjacent recovery interest scores as of July 11:

  1. Milwaukee 85.9
  2. Oklahoma City 88.4
  3. Louisville KY 92.1
  4. Birmingham AL 92.2
  5. Minneapolis 92.6
  6. Columbus OH 92.6
  7. Chicago 92.7
  8. Atlanta 93.2
  9. Providence RI 93.7
  10. Richmond VA 93.7

 

Thanks to realtor.com.

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