The Beginning of an Economic Recovery | MyKCM

The news these days seems to have a mix of highs and lows. We may hear that an economic recovery is starting, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand exactly what’s going on and what it means relative to the road ahead. We’ve talked before about what real estate experts expect in the second half of this year, and today that progress largely hinges upon the continued course of the virus.

The Beginning of an Economic Recovery | MyKCM
Real Estate Experts News

A recent Wall Street Journal survey of economists noted, “A strong economic recovery depends on effective and sustained containment of Covid-19.” Given the uncertainty around the virus, we can also see what economists are forecasting for GDP in the third quarter of this year (see graph below):Overwhelmingly, economists are projecting GDP growth in the third quarter of 2020, with 5 of the 9 experts indicating over 20% growth.

Real Estate Experts News

Lisa Shalett, Chief Investment Officer for Morgan Stanley puts it this way:

“Indeed, the ‘worst ever’ GDP reading could be followed by the ‘best ever’ growth in the third quarter.”

As we look forward, we can expect consumer spending to improve as well. According to Opportunity Insights, as of August 1, consumer spending was down just 7.8% as compared to January 1 of this year.

Real Estate Experts News

Bottom Line

An economic recovery is beginning to happen throughout the country. While there are still questions that need to be answered about the road ahead, we can expect to see improvement this quarter.


Mortgage Rates & Payments by Decade [INFOGRAPHIC] Real Estate Experts News

Mortgage Rates & Payments by Decade [INFOGRAPHIC] | MyKCM
Real Estate Experts News

Some Highlights Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant. Let’s connect to determine the best way to position your family … Read More Real Estate Experts News


Homes Are More Affordable Right Now Than They Have Been in Years – Real Estate Experts News

Homes Are More Affordable Right Now Than They Have Been in Years | MyKCM

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why. According to the Mortgage Monitor Report … Read More Real Estate Experts News


The Latest Unemployment Report: Slow and Steady Improvement | Real Estate Experts News

The Latest Unemployment Report: Slow and Steady Improvement | MyKCM
Real Estate Experts News

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%. When the official report came out, it revealed that 1.8 million jobs were added, and … Read More Real Estate Experts News


2020 Homebuyer Preferences [INFOGRAPHIC] – Real Estate Experts News

2020 Homebuyer Preferences [INFOGRAPHIC] | MyKCM
Real Estate Experts News

Some Highlights A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers. Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment. Let’s connect today if your needs have recently changed … Read More Real Estate Experts News


Why Homeowners Have Great Selling Power Today – Real Estate Experts News

Why Homeowners Have Great Selling Power Today | MyKCM
Real Estate Experts News

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. … Read More Real Estate Experts News