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RE Rundown (8/27/20)

The US housing market continues to heat up in the second half of 2020. It is well past the recovery phase 🤕 and is now booming 💥 with higher home sales compared to the pre-pandemic period. For the first time since the pandemic began, all four major components of real estate activity—the demand, supply 📈, pricing 💲, and sales 🤑 —are growing above the pre-COVID pace.

"I've never heard of them." 🤷‍♀️ Chrissy Teigen isn't convinced 🤔 that the women of Selling Sunset 🌅, a Netflix series that follows a group of luxury real estate agents in L.A., are actually real estate agents. "I look at LA real estate a lot and have never seen any of these people," Teigen tweeted on August 18.

As the COVID-19 pandemic made its way into the U.S. 🇺🇸 early this spring, wreaking havoc 🌀 on the health-care 🏥 system and almost paralyzing the entire economy, most industry specialists began asking themselves if 2020 will bring a real estate market crash 🔻.

The New York 🗽 real estate market 🌃 is still experiencing a challenging recovery period ⏳ driven largely by hardships in Manhattan 🤬, which was severely hit early on in the coronavirus outbreak. New York’s housing market was the most affected by the coronavirus-related recession as of last month, according to Bankrate’s Housing Hardship Index 📊.



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