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The impact of covid-19 on American housing market From Translation

The following is the The impact of covid-19 on American housing market From Translation recommended by And this article belongs to the classification: Commercial real estate, Investment & Economy, research report.

New cases of cowid-19 will continue to pose significant resistance to the U.S. economy in 2021. The closing rate of enterprises is still very high, consumers are uncertain about the future, and the economic growth of the whole industry is slowing down and extremely unbalanced. Liquidity has stagnated and consumer spending in some areas has begun to fall. But the U.S. housing market is on fire.

Data show that in 2020, the U.S. real estate market has achieved considerable growth. Sales of new and existing homes fell by a quarter as a result of the pandemic, but have since rebounded. Sales of new homes increased by 33.9% over the third quarter of 2019, while sales of existing homes increased by 13.2%.

Housing starts last winter were the highest since 2006. There is a lot of activity on the market, and there are early signs that it may continue into the month. Pending sales are up about 40.3% from last year, according to the report.

This is the first double-digit year-on-year growth in the US real estate market since mid-2019, so people are full of optimism.

The report also surveys the proportion of consumers who plan to buy homes over the next six months to measure future home buying activity. In the first quarter, U.S. consumers planning to buy homes in the first six months of 2020 reached a record level. Another thing to note is that in the last two quarters, these figures have declined, indicating that people’s intention to buy houses in the future has declined.

According to the latest news reports, people are fleeing the city and moving to more suburban and rural areas. The survey of real estate agents did show a change in people’s preferences in cowid-19, with most people wanting to see houses in rural and suburban areas. However, the share of views on houses for sale involving rural, suburban and urban areas has virtually remained unchanged.

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