{"id":2971,"date":"2020-05-14T05:00:20","date_gmt":"2020-05-14T10:00:20","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-turn-around-this-year\/"},"modified":"2020-05-14T05:00:20","modified_gmt":"2020-05-14T10:00:20","slug":"will-the-housing-market-turn-around-this-year","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-turn-around-this-year\/","title":{"rendered":"Will the Housing Market Turn Around This Year?"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/05\/13113834\/20200514-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Will the Housing Market Turn Around This Year? | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/05\/confused-about-the-economic-recovery-heres-why\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">economy<\/a> will turn around. If you\u2019re trying to figure out what\u2019s going to happen and how to play your cards this year, you\u2019re not alone.<span id=\"more-42338\"><\/span><\/p>\n<p>This spring in the <a href=\"https:\/\/www.nar.realtor\/sites\/default\/files\/documents\/2020-05-04-nar-flash-survey-economic-pulse-05-07-2020-2.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>2020 NAR Flash Survey: Economic Pulse<\/em><\/a>, the <em>National Association of Realtors <\/em>(NAR) has been tracking the behavior changes of homebuyers and sellers. In a reaction to their most recent survey, Lawrence Yun, <em>Chief Economist<\/em> at NAR, noted the beginnings of a turn in the market:<\/p>\n<blockquote>\n<p><em>\u201cAfter a pause, home sellers are gearing up to list their properties with the reopening of the economy\u2026Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.\u201d<\/em><\/p>\n<\/blockquote>\n<h4><strong>What does the survey indicate about sellers? <\/strong><\/h4>\n<p>Sellers are positioning themselves to make moves this year. More than 3 in 4 potential sellers are preparing to sell their homes once stay-at-home orders are lifted and they feel more confident, which means more homes will start to be available for interested buyers.<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/05\/13113836\/20200514-MEM-Eng-1.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42340\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/05\/13113836\/20200514-MEM-Eng-1.jpg?resize=650%2C488&#038;ssl=1\" alt=\"Will the Housing Market Turn Around This Year? | Simplifying The Market\" width=\"650\" height=\"488\" \/><\/a>Just this week, <a href=\"http:\/\/zillow.mediaroom.com\/2020-05-12-New-Listings-are-Ticking-Up-With-High-End-Homes-Beginning-to-Rally-After-Tumbling-the-Most\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Zillow<\/em><\/a> also reported an uptick in listings, which is great news for the health of the market:<\/p>\n<blockquote>\n<p><em>\u201cThe number of new for-sale listings overall has shown improvement, up 5.9% last week from the previous week. New listings of the most-expensive homes\u2026are now seeing the biggest resurgence, up 8%. The uptick is likely a sign sellers are feeling more confident because of improving buyer demand, as newly pending sales have also jumped up during the same period.\u201d<\/em><\/p>\n<\/blockquote>\n<h4><strong>What does the survey note about buyers?<\/strong><\/h4>\n<p>The recent pandemic has clearly impacted buyer preferences, showing:<\/p>\n<ul>\n<li>5% of the respondents said buyers are <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/13\/a-surprising-shift-to-the-burbs-may-be-on-the-rise\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">shifting<\/a> their focus from urban to suburban areas.<\/li>\n<li>1 in 8 Realtors report changes in desired home features, with home offices, bigger yards, and more space for their families becoming increasingly important.<\/li>\n<li>Only 17% said buyers stopped looking due to concerns about their <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/12\/unemployment-report-no-need-to-be-terrified\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">employment<\/a> or loss of a job.<\/li>\n<\/ul>\n<p>As we\u2019ve mentioned before, <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/11\/will-home-values-appreciate-or-depreciate-in-2020\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">buyer demand<\/a> is strong right now, and many are simply waiting for more inventory to become available so they can make a move, especially as the country begins to <a href=\"https:\/\/www.nytimes.com\/interactive\/2020\/us\/states-reopen-map-coronavirus.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">reopen<\/a>.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you\u2019re thinking about putting your house on the market, let\u2019s connect today. There\u2019s a good chance an eager buyer is looking for a home just like yours.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the economy will turn around. If [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2972,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2971","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Will the Housing Market Turn Around This Year?&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/will-the-housing-market-turn-around-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will the Housing Market Turn Around This Year?&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Today, many people are asking themselves if they should buy or sell a home in 2020. 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