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3 Signs the Housing Market Is on the Rebound

Friday, October 4, 2019   /   by Randy Leaf

3 Signs the Housing Market Is on the Rebound

3 Signs the Housing Market Is on the Rebound


3 Signs the Housing Market Is on the Rebound | MyKCM



The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound:


1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.


2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth:



  • The Northeast rose 0.7%

  • The Midwest increased 0.6%

  • The South increased 1.4%

  • The West grew 3.1%


3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.



  • The Northeast is up 5.9%

  • The Midwest increased 1.3%

  • The South is up 2.7%

  • The West grew 2.2%


In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:



“The trend we saw in year-over-year buyer traffic in previous months continued across the United States. For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years.”



Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:



“It is very encouraging that buyers are responding to exceptionally low interest rates…With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020.”



Bottom Line


If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy.


Salzman Real Estate Team ENGEL & VÖLKERS • LA - South Bay
Dave Salzman
1147 Highland Ave
Manhattan Beach, CA 90266
310-871-5314
310-545-2260
DRE# CalBRE#: 00952732

Based on information from California Regional Multiple Listing Service, Inc. as of September 30, 2020. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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