COVID Housing Recovery In Sight

May 29, 2020

Director of Events

Realtor.com's Weekly Housing Trends report suggests everything is in place for a COVID-19 housing recovery. Following weeks of dips in new listings and nearly flat yearly price gains, there looks to be a clear turnaround in both categories.

"Weekly data shows we have taken the first step in the process of returning to healthy housing conditions: getting buyers and sellers off the sidelines," said Javier Vivas, director of economic research for Realtor.com. "The improvement in new listings this week is a sign the market is on its way to recovery, but the deficit in total inventory will be a drag on sales. Many buyers are ready and itching to get back on the market, so the faster we see sellers return, the faster home sales will recover."

Median listing prices are approaching pre-pandemic levels and new listings are down just 20% compared to 29% in the week ending on May 9 and even greater 30% and 40% marks in weeks prior. Inventory struggles are still looming with total inventory being down 22%. Meanwhile, the data also shows that time on market is 16 days slower than this time last year.

"Three quarters (75 of 100) of large metros continued to see smaller declines this week, including the largest three markets in the country: New York, Los Angeles and Chicago," according to the report.

"This week's data shows price gains are reaccelerating as the mix of homes for-sale appears to be reverting back toward pricier properties. While current price gains remain below pre COVID-19 levels, we expect them to regain momentum in the weeks to come as sellers regain confidence and buyers resume activity."

Read more from Realtor.com's Weekly Housing Trends.

About the author

Navi Persaud

Director of Events

Navi Persaud is Director of Events at NMP.

Link copied

Published

May 29, 2020

Sales and Marketing

Assurance Joins Growing Push For Medical Professional Borrowers

MedPro Mortgage+ offers eligible healthcare professionals up to 100% financing without PMI as lenders expand specialty options beyond physicians

Assurance Financial has introduced MedPro Mortgage+, a specialty mortgage program offering eligible healthcare professionals up to 100% financing without private mortgage insurance.The program joins a growing field of mortgage products aimed at borrowers who may have substan...

Non-QM

Friday Harbor Takes Aim At DSCR’s Underwriting Bottleneck

With investor loans accounting for more than a third of Non-QM production, the company is bringing leases, rent schedules, and entity documentation into its pre-underwriting platform

Investor and DSCR loans are taking a bigger share of Non-QM production. Friday Harbor is betting that more loan officers will need the underwriting knowledge to handle them.The Seattle-based mortgage technology company has expanded its pre-underwriting platform to investor l...

Nov

Houston, TX

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026

Fed Hike Raises HELOC Costs While Mortgage Rates Stay Near 7%

Prime rose to 7% while the 10-year Treasury remained near 5%, giving originators two different borrower conversations

Industry News

Sep 17, 2026

Popular