Acknowledging the many unknowns in relation to the COVID-19 virus, Lawrence Yun, chief economist for the National Association of REALTORS®, sounded cautious optimism about where the economy is heading and highlighted positive indicators in the residential real estate market at the Residential Economic Issues and Trends Forum on May 13 at the 2020 REALTORS® Legislative Meetings.
Now more than ever American families rely on REALTORS to help them defend and protect the American Dream of Homeownership! The “Protect Your Investment–A Guide For At Risk Homeowners” was developed to help those who are experiencing financial difficulties as a result of the COVID-19 pandemic. This resource is a free benefit of your REALTOR membership.
Every home sale in 2019 added at least $54,741 to a maximum of $184,763 to the economy of in 2019, according to National Association of REALTORS reports. And economists point out that home sales can have the same economic boost during the coronavirus pandemic, too. In Missouri, each home sale added an average of $59,599 to the state’s economy. In 2019, real estate sales accounted for $49.6 billion or 14.
Homeowners seeking t premium when selling their home should eye the months of May and June, a new analysis from ATTOM Data Solutions shows. The study is based on 33 million single-family home and condo sales between 2011 and 2019. It does not take into account the effect of the current COVID-19 pandemic on home sales this year.
Financial Institutions have been tightening up on lending in recent weeks due to the COVID-19 pandemic, and home equity lines of credit have become the most recent target. JPMorgan Chase and Wells Fargo are the latest bank giants to announce that they will no longer be accepting applications for new HELOCs. The change does not impact the bank’s existing home equity customers.
Nearly 3 in 4 REALTORS currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers according to a new survey from the National Association of REALTORS. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic.
The Missouri Department of Labor and Industrial Relations’ (DOLIR’s) Division of Employment Security (DES) is now processing unemployment claims for the self-employed, gig workers, independent contractors, and those who otherwise do not qualify for regular unemployment benefits and have been impacted by the coronavirus.
With an expected slowdown in spring real estate business activity, many REALTORS remain hopeful for a post-pandemic market rebound, according to a new survey from the National Association of REALTORS. The majority of REALTORS believe buyers and sellers will return to the market as delayed transactions following the end of the health crisis.
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