As darkness falls each evening, there are a few bright-shining stars that emerge before the rest become visible.
Financial news is suggesting the real estate industry may be one of the brightest stars in pending recovery. For example, here are some recent headlines:
Google reports searches for “homes for sale” are up an average of 54% from 2020 lows in 50 metros.
Freddie Mac’s chief economist said, “Today’s purchase demand is only down 10% from a year ago.”
Zillow reports new listings nationally grew 5.9%, up for the third week in a row.
Applications for mortgages to purchase homes went up 6% for the week and are only 1.5% below a year ago.
To an employment marketplace that has been decimated in the last three months, this is much-needed good news.
And to individuals who have lost their jobs and must pivot to something new, this is just the kind of light they’re hoping to see.
The industries that recover most quickly have the advantage in attracting the most talented individuals who have been displaced.
But, it’s important to recognize what’s happening and use the early recovery status to your advantage.
