Housing Market Already Starting To Recover

The housing market is already starting to recover from an April slowdown caused by the pandemic.

Home mortgage applications rose 9 percent last week, and have gone up for six consecutive week. Overall applications are up 54 percent from their low point in early April. Newly built homes are also selling faster than anticipated.

Some attribute the spike to a combination of low interest rates and a desire to flee urban areas for more spacious suburbs during the pandemic.

Source: https://www.cnbc.com/2020/05/27/mortgage-demand-from-homebuyers-shows-strong-and-quick-recovery.html