{"id":3031,"date":"2020-06-25T05:00:17","date_gmt":"2020-06-25T10:00:17","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/new-index-reveals-impact-of-covid-19-on-real-estate\/"},"modified":"2020-06-25T05:00:17","modified_gmt":"2020-06-25T10:00:17","slug":"new-index-reveals-impact-of-covid-19-on-real-estate","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/new-index-reveals-impact-of-covid-19-on-real-estate\/","title":{"rendered":"New Index Reveals Impact of COVID-19 on Real Estate"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/23164530\/20200625-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"New Index Reveals Impact of COVID-19 on Real Estate | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Earlier this month, <em>realtor.com<\/em> announced the release of their initial <a href=\"https:\/\/news.move.com\/2020-06-11-Realtor-com-R-Launches-Weekly-Housing-Recovery-Index\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Housing Recovery Index<\/a>, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following:<span id=\"more-42568\"><\/span><\/p>\n<ol>\n<li><strong>Housing Demand <\/strong>\u2013 Growth in online search activity<\/li>\n<li><strong>Home Price<\/strong> \u2013 Growth in asking prices<\/li>\n<li><strong>Housing Supply<\/strong> \u2013 Growth of new listings<\/li>\n<li><strong>Pace of Sales<\/strong> \u2013 Difference in time-on-market<\/li>\n<\/ol>\n<p>The index then compares the current status<em> \u201cto the last week of January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market&#8217;s index value, the higher its recovery and vice versa.\u201d<\/em><\/p>\n<p>The graph below charts the index by showing how the real estate market started out strong in early 2020, and then dropped dramatically at the beginning of March when the pandemic paused the economy. It also shows the strength of the recovery since the beginning of May.<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/23164458\/20200625-MEM-ENG.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42569\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/06\/23164458\/20200625-MEM-ENG.jpg?resize=650%2C488&#038;ssl=1\" alt=\"New Index Reveals Impact of COVID-19 on Real Estate | Simplifying The Market\" width=\"650\" height=\"488\" \/><\/a>It\u2019s clear to see that the housing market is showing promising signs of recovery from the deep economic cuts we experienced earlier this spring. As noted by Dean Mon, <em>Chairman<\/em> of the <em>National Association of Home Builders<\/em> (<a href=\"https:\/\/nahbnow.com\/2020\/06\/builder-confidence-surges-in-june-as-housing-rebound-is-underway\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">NAHB<\/a>):<\/p>\n<blockquote>\n<p><em>\u201cAs the nation reopens, housing is well-positioned to lead the economy forward.\u201d<\/em><\/p>\n<\/blockquote>\n<p>The data today indicates the housing market is already on the way up.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Staying connected to the housing market\u2019s performance over the coming months will be essential, as we continue to evaluate exactly how the housing market is doing in this uncharted time ahead.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following: Housing Demand \u2013 Growth in online search activity Home [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3032,"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_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},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[54],"class_list":{"0":"post-3031","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 v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Index Reveals Impact of COVID-19 on Real Estate&#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\/new-index-reveals-impact-of-covid-19-on-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Index Reveals Impact of COVID-19 on Real Estate&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. 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