Key Highlights
- Realtor.com’s Housing Market Recovery Index indicates housing market making positive strides
- Set at recovery pace of 100 for last week of January 2020, Housing Market Recovery Index reached 95.8 nationwide for week ending June 27
- 12 of 50 largest markets showing recovery pace of at least 100
Could the housing market be in the beginning stages of recovery? It looks that way according to realtor.com’s Housing Market Recovery Index.
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Realtor.com’s Housing Market Recovery Index sets 100 as the primary indicator for the market’s recovery pace. January 2020 was the last time that Index setting hit 100 but during the week ending June 27, that Index pace hit 95.8 nationwide. Translated, this 95.8 reading indicates that housing demand, inventory, prices and pace of sales are all climbing.
On top of this, 12 of the country’s largest 50 metros are indicating recovering with Boston, San Francisco, Seattle, Denver and Philadelphia leading the pack. Regionally, the index measure looks like this:
- Northeast – 110.7
- Midwest – 93.9
- South – 95
- West – 103.3
Specific index readings look like this:
- New listings index – 90.9
- Pace of sales – 85.9
- Sale prices – 102.6
- Housing demand – 119.5
Realtor.com’s report on this monthly Housing Market Recovery Index pointed specifically to the pace of home sales. “Improvement in the pace of sales remains highly dependent on cities’ ability to successfully contain COVID cases and safely reopen their economies.”
Thanks to realtor.com and HousingWire.
Also read: Freddie & Fannie Extend Multifamily Forbearance, Recession? Really? Buying Season Hot As the Summer Just Like the Prices, US Homebuilding Drops to 5-Year Low in April
