Housing market shows several signs of recovery

In today’s Daily Download episode, HW+ Managing Editor Brena Nath discusses whether or not the U.S. housing market is beginning to recover from the COVID-19 pandemic’s impact.

For some background on the story, in an article, columnist Logan Mohtashami writes:

If we are diligent, we will be able to identify the return of hope and light coming back into the American economy. While no one could truly know when we’ll see the end of the coronavirus, we can at least know what signs to look for that the housing market is on the rebound:

1.  Flattened Curve: The first, and in fact, a prerequisite event that will indicate that the economy will come out of this tunnel is the turning of the number of new cases of infection from positive to flat or negative.  
2. End of Stay-at-Home Orders: The second and also prerequisite indicator that the economy will be getting back on track is the lifting of stay-at-home orders.
3. 10-Year Yield Goes Above 1%: Dramatic changes in the bond markets were the harbingers of our oncoming economic decline and will be the beacons for our recovery.
4. Decline in Credit Stress and Jobless Claim: When credit stress and jobless claims start to fall, you can believe we are on the road to recovery.
5. Data from the hardest-hit sectors starts to trend upward: Some of the hardest-hit business sectors will show recovery first because the declines have been so horrific.

Following the main story, HousingWire Digital Producer Alcynna Lloyd covers the Mortgage Bankers Association’s weekly applications survey, an announcement from Zillow that it has resumed and expanded its ibuying service, and house price gains in Massachusetts’ housing market.

The Daily Download examines the most captivating articles reported from the HousingWire newsroom. HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.

HousingWire articles covered in this episode:

• Is the housing market already rebounding from COVID-19?
• Jump in mortgage applications for home purchases shows buyers are back
• Zillow Offers resumes buying in five more markets
• Massachusetts house prices gained 11%, outpacing the nation