Experts Agree – The Economic Recovery Will Start in Q3 2020 – Atlantic Home Loans
Amidst the daily news of Covid-19 and its affects on American lives and businesses, no matter how it has affected you personally, one cannot help but wonder when recovery is expected to begin. Experts understand that a stable housing market will lead the way to the road to economic recovery, but when do they think it will be within sight?
According to the Economic Forecasting Survey from the Wall Street Journal, a poll of more than 60 economists show that 85.35 of them believe the second half of 2020 will begin to show upticks in the country’s financial outlook. As states begin to open their non-essential businesses and jobs are reset, the gears that turn the economy will begin to pick up speed, driving towards “normal”.
“We fully expect the economy could begin to pick up in late June and July with a strong recovery in the fourth quarter”, says Chris Hyzy, Chief Investment Officer for Merrill.
With this increase comes a GDP in the positive, which should help sooth investors’ worries about inconsistencies in market performance as recovery ramps up.
So, what does this mean for the housing market?
Commercial buyers and sellers, new construction and multi-property owners will see relief as “normal” buying processes begin, which means a simpler process for them and their tenants or clients a restart of normal buying and leasing processes, as well as a potential surge in home buying as we enter Q3.
The housing market has already begun to recover from the effects of the virus on our communities. While home sales dropped on many areas hard-hit by the virus, historically we know that home values maintain during pandemics, so recovery will look to see little loss to home values as things move forward.
Find out what’s happening in your neck of the woods as the world begins to roll toward recovery by connecting with a local mortgage and real estate professional who can get you on the road to be ready when you want to sell or buy your next property. Stay safe out there! We will get through this together.

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