Recovery This Year Is On It's Way!

It's human nature. You want to do a certain something. You really need to do that something. But you can't. For whatever reason. Through no fault of your own. But you need and want to so badly. So, when the barriers come down that are keeping you from moving forward, it's full steam ahead. 

This will be our economy soon, especially related to the real estate market. 

One of the biggest questions people seem to be asking these days is, When are we going to start to see an economic recover? As the country begins to slowly reopen, moving forward in strategic phases, business activity will help bring our nation back to life. Many economists indicate a recover should begin to happen in the second half of this year. Here's a look at what some of the experts have to say. 

Jerome Powell, Federal Reserve Chairman

"I think there's a good chance that there'll be positive growth in the third quarter. And I think it's a reasonable expectation that there'll be growth in the second half of the year...
So, in the long run, I would say the U. S. economy will recover. We'll get back to the place we were in February; we'll get to an even better place than that. I'm highly confident of that. And it won't take that long to get there."

Nonpartisan Analysis for the U. S. Congress

"The economy is expected to begin recovering during the second half of 2020 as concerns about the pandemic diminish and as state and local governments ease stay-at-home orders, bans, on public gatherings, and other measures. The labor market is projected to materially improve after the third quarter; hiring will rebound and job loss will drop significant'y as the degree of social distancing diminishes." 

Neel Kashkari, President, Minneapolis Federal Reserve Bank


"I think we need to prepare for a more gradual recover while we hope for that quicker rebound." 

We're certainly not out of the woods yet, but clearly many experts anticipate we'll see a recovery starting this year. It may be a bumpy ride for the next few months, but most agree that a turnaround will begin sooner than later. 

During the planned shutdown, as the economic slowdown pressed pause on the nation, many potential buyers and sellers put their real estate plans on hold. That time coincided with the traditionally busy spring real estate season. As we look ahead to this economic recovery as we begin to emerge back into our communities over the coming weeks and months, perhaps it's time to think about putting your real estate plan back into play.

Bottom Line

The experts note a turnaround is on the horizon, starting as early as later this year. If you paused your 2020 real estate plans, reach out to a trusted real estate professional today to determine how you can re-engage in the process as the country reopens and the economy begins a much anticipated rebound. 

"Fear is the hiding place of the weak. Caution is the shield of the unsure. Confidence is the sword of the strong."

Scott's Advice

Inventory was ridiculously low with homes before the pandemic shut us down. The shutdown didn't magically produce more homes. The economy was strong prior to Covid 19 and it will be strong again. If you wait to long, there is a really good chance you will lose your advantage. Reach out to me to discuss your next steps. Even if you aren't ready now, let's plan out your pathway so we hit the ground running. 

Scott C. Dickinson is a real estate broker who lives in beautiful Vancouver, WA but helps others with their real estate needs all over the U. S. He can be reached by email at ScottYourBroker@gmail.com or call him at 360-518-7197. Connect with him online at linktr.ee/yourbrokerscott.