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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Housing Market on Track to Beat Last Year’s Success

Housing Market on Track to Beat Last Year’s Success | Simplifying The Market

Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse. Some forecasts called for a 15-20% decline in transactions. However, six months later, it seems as though the housing market has fully recovered.

Mark Fleming, Chief Economist at First American, announced last week:

“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”

The Economic & Strategic Research Group at Fannie Mae upgraded its forecast for home sales last week:

“Housing data over the past month continued to show a strong V-shape rebound, helping drive the broader economy. Existing home sales jumped to a pace not seen since 2006…We have substantially upgraded our forecasts for both new and existing home sales. For 2020, total home sales are now expected to be 1.3% higher than in 2019.”

The National Association of Realtors (NAR) agrees. In their last Pending Sales Report, NAR shared projections from Chief Economist Lawrence Yun:

“Yun forecasts existing-home sales to ramp up to 5.8 million in the second half. That expected rebound would bring the full-year level of existing-home sales to 5.4 million, a 1.1% gain compared to 2019.”

Yun’s forecast for 2021 was even more optimistic, stating, “Home sales will ramp up again next year, increasing between 8% – 12%.”

Bottom Line

The housing market has come roaring back and looks as though it may even surpass last year’s success.

Frank Martell, President and CEO of CoreLogic, hit the nail on the head when he said, “On an aggregated level, the housing economy remains rock solid despite the shock and awe of the pandemic.”

 

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
11222 Rapallo Lane Windermere FL 34786
Open House Sun, Jun 1, 2 PM
1 / 61
$699,800
4
BEDS
2
TOTAL BATHS
2,350
SQFT
11222 Rapallo Lane Windermere, FL 34786
Single Family Residence For Sale
- Active

2025 aesthetic inside and out. You will love this east-facing and tucked-away, private, fully fenced tropical court lot in gated South Belmere, offering the rare combination of peaceful seclusion and unbeatable convenience—just minutes from three maj

Listing courtesy of Elliott Hagood of Home & Family RE & Property Management
2948 Bella Flore Terrace New Smyrna Beach FL 32168
New Listing - 5 hours on site
1 / 73
$995,000
3
BEDS
2
TOTAL BATHS
2,050
SQFT
2948 Bella Flore Terrace New Smyrna Beach, FL 32168
Single Family Residence For Sale
- Active

Pristine ,well kept home ! Used for a vacation home ! Gated community in Venetian Bay on the 18th hole , backed up to the club house ! This is the largest lot in the subdivision . Enjoy outside living on the front screened in porch or on the scre

Listing courtesy of Ron Ballou of Coldwell Banker Coast Realty
3 Ashford Lakes Drive Ormond Beach FL 32174
New Listing - 7 hours on site
1 / 60
$889,500
4
BEDS
3
TOTAL BATHS
3,793
SQFT
3 Ashford Lakes Drive Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

Custom ''Luxury Builders'' contractor's personal home. The ''Shakespeare'' Green Luxury at its finest. Certified gold by the Florida Green Building Coalition, Energy Star rated by the US Govt. & FL Yards and Neighborhoods by the State of FL. Situate

Listing courtesy of Skip Stamper of Halifax Area Properties LLC

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Related posts:

  1. New Homes Coming to the Housing Market This Year
  2. A Historic Rebound for the Housing Market
  3. Today’s Expert Insight on the Housing Market
  4. Will the Housing Market Turn Around This Year?

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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