National Association of Realtors® Membership Reporting Home Sales are Slowly Recovering

According to the National Association of Realtors®, Market Recovery Survey, which was released on Thursday 7-9-20, 45% of NAR members are reporting that their markets are slowly starting to recover from the impacts of the COVID-19 pandemic. Yet, fears of a second wave continue to hold some members markets in check. According to survey respondents the housing market is rebounding in some regions. 28% of those surveyed said their market is coming back hotter than normal. While 19% said their respective market is back to normal and 9% do not feel like they have entered recovery yet. The survey also confirms the ongoing trend of apartment dwellers wanting to move to rural areas with bigger space. In fact, 28% who live in a small town or rural area reported that their market is hotter than normal.