Cities With Tech Hubs Provide Plentiful Buyer Leads
June 18, 2020
Housing markets that are known for having strong job creation in the tech sector are bouncing back more quickly than other markets, according to realtor.com®'s Weekly Housing Recovery Report released Thursday. Denver, Boston, Seattle, San Francisco, and San Diego are now leading the housing recovery nationwide, realtor.com® reports.
“As the market heads into the summer, growth in online home searches and asking prices has surpassed pre-COVID levels, but movement in supply and time on market remains well below the seasonal pace,” says Javier Vivas, director of economic research for realtor.com®. “But locally, the story is much more nuanced. Markets with stronger job creation pre-COVID are proving to have the crucial edge for real estate activity, particularly those with a strong technology sector. As more tech companies weather the storm, the stable jobs and incomes they offer will continue to power demand for the country this summer.”
Realtor.com®’s Housing Market Index posted a reading of 90 for the week ending June 13. That indicates the housing market is nearly halfway recovered to its January 2020 levels.
Updated: July 02, 2020