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Analysis

Homebuying Holds Up Surprisingly Well in Recession

Boost in Housing Affordability From Low Rates, Lower Financial Impact on High Wage Earners Seen as Key Home Sales Drivers
A recent bounce-back in sales and prospective homebuyers’ traffic has boosted homebuilder’s optimism. (iStock)
A recent bounce-back in sales and prospective homebuyers’ traffic has boosted homebuilder’s optimism. (iStock)
By Galina Alexeenko
CoStar Analytics
June 23, 2020 | 8:19 P.M.

While the pandemic pushed the U.S. economy into a sudden and deep recession, the housing market has barely skipped a beat. A number of data releases over the past week have underscored the surprising resilience of homebuyer demand, even in the midst of historic job losses and a global public health crisis.

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