5 Trends That Signal Real Estate is Bouncing Back

While economic downturns typically aren’t good news for the real estate market, this is the first in American history to result in more people moving. This opportunity is transformative because unlike past cataclysmic events that have limited mobility, this one has increased it — and at Compass, we are helping our clients seize the opportunity. 

Even our colleagues based in one of the few markets experiencing uncharacteristic lulls know that activity will pick back up because of the way people are seeing the value of their home in a new light. Everyone is taking this time to reevaluate what they need in a home and in a community and for many, that’s resulting in a desire to move.

Here are 5 trends we’re seeing nationally that indicate the market is making a comeback.

1. Mortgage rates reached an all-time low in July, causing a spike in mortgage applications: finally dropping below 3% after weeks of speculation, rates settled around 2.87% bringing buyers out of the woodwork. There was a 33% increase in mortgage applications for the first week of July vs. this time last year. 


Source: Mortgage Bankers Association Index  
2. National home sale activity rebounded: Existing-home sales in June rebounded 20.7% month over month, the highest monthly increase ever recorded. 


Source: Wall Street Journal
3. Home prices are at all-time highs: Median existing-home prices grew 2.8% to hit an all-time high, for the 100th consecutive month, highlighting the opportune environment for sellers. 


Source: National Association of Realtors
4. Homes are selling at the fastest rate ever recorded: 20 average days on market before sale. 


Source: Inman
5. Homebuilder sentiment is at 72: Increasing by 14 points in July, the last time we had a yearly average as high as 72 was in 1999. 


Source: National Association of Homebuilders

If you’re interested in a more detailed look at how the market has been performing in your neighborhood, let us know! We’d be happy to provide you with our insight into the ever-changing real estate landscape.

LiveStream Open Houses

Livestream Open Houses – Sunday 7/26/2020

Tour these homes without leaving home.

520 N Street SW S216
Washington, DC

LiveStream Open House 
Sunday 7/26, 1-1:15pm


Southwest Waterfront
1 Bed | 1 Bath | $499,000

Want to be near all the waterfront excitement, but come home to a very special place? Make S216 your new address! A ONE OF A KIND redesigned one-bedroom co-op in one of Washington’s Best Addresses. This Harbour Square apartment has everything you’re looking for in your next home: open gourmet kitchen with ample prep areas, thoughtfully designed storage solutions, and a space-saving dining table built into the kitchen peninsula; a spacious living room with electric fireplace in decorative chimney breast. A glass barn door separates the public and private spaces. Have a spa day in the beautiful and luxurious bath with glass enclosed walk-in shower, porcelain tiling, and linen closet. The serene bedroom features a ceiling fan, walk-in closet, laundry and shoe closets. Situated in a tranquil tree court, S216 also offers a balcony overlooking the co-op’s Waterfront Walkway — one of the many beautiful spaces within the property. Other amenities include public rooftop terraces, green spaces with grilling and seating areas, a community/party room, indoor pool, fitness center, bike storage, guest parking, 24-hour gatehouse, security, in-house maintenance and much more. Pets allowed.

560 N Street SW N413
Washington, DC

LiveStream Open House 
Sunday, 7/26 1:30-1:45pm


Southwest Waterfront
1 Bedroom | 1 Bath | Den | Balcony $425,000

In beautiful SW Waterfront. N-413 offers a renovated kitchen with stainless appliances & granite counters, den/office/guest room, in-unit washer/dryer combo, large balcony, bath with tub shower, ample closet storage, hardwood floor and more.

Harbour Square co-op has indoor pool, gym, public roof terraces, 24-hour gatehouse, and onsite management. Pets allowed. Visitor parking available. Monthly rental parking. 

LiveStream Open Houses

Livestream Open Houses – Saturday 7/11/2020

811 4th Street Northwest, Unit 1103
Washington, DC

LiveStream Open House 
Saturday 7/11, 1-1:15pm


Mount Vernon Square
2 Bed | 2 Bath | Garage | $625,000

Light Filled 2 bedroom/2 bath + Garage Parking + Storage. Step into hallway foyer, leading to step-up lofted flex bedroom with partial wall that lets lots of natural light in. Guest bath with tub shower. Open kitchen/living/dining. Wall of windows with tranquil high-up eastern views. Spacious second bedroom is directly off living room separated by pocket door. Floor to ceiling windows with sliding doors that open to small balcony. Another full bath with walk in shower. Closets galore throughout. Maple flooring + carpeted bedrooms + ceramic bath tiles. Extra high ceilings with exposed AC ducts. In-unit Washer/Dryer. Gas cooking. Granite countertops. 

430 M Street SW, Unit N201
Washington, DC

LiveStream Open House 
Saturday 7/11, 2:00-2:15pm


Southwest Waterfront
Studio | 1 Bath | $265,000

This lovely studio co-op offers updates throughout. Ample and flexible living, dining and sleeping spaces. Storage galore. A spacious west-facing balcony extends your living space to enjoy the outdoors privately. Pets allowed

What the CARES Act Means For You

As we’re all dealing with the effects of COVID-19 on our lives, we want to share encouraging news: the government has approved the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act which will help millions of people in this critical time. Perhaps even you.

This sweeping legislation is unprecedented in the history of our nation and provides significant economic assistance to address the impact of COVID-19. The CARES Act is over 800 pages long, but here are some of the economic provisions most relevant for you.

What this means for you and your loved ones


If you’re eligible for a cash payment 
Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.


If you or someone you know has lost a job
States will still continue to pay unemployment to people who qualify. This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months. 


If you’re a small business owner

The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses who qualify for the Economic Injury Disaster Loan to cover immediate operating costs,

There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books, or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.

If you’re a freelancer or independent contractor
Typically, self-employed people, freelancers and contractors can’t apply for unemployment. This bill creates a new, temporary Pandemic Unemployment Assistance program that provides unemployment coverage through the end of the year to freelancers and independent contractors and also provides an additional $600 per week for 4 months in addition to regular state benefits.

If you’re a property/homeowner
Borrowers of federally-backed mortgage loans can request a loan forbearance on their payments (without penalties, fees, or interest) for at least 180 days. 

Multi-family borrowers may request a similar forbearance for up to 30 days. 

In addition, foreclosures on similar mortgage loans are prohibited for at least 60 days and evictions from properties related to several federal programs are also prohibited for a 120 day period. 


If you would like to learn more about all the contents in the CARES Act, please see this article.

Please do not hesitate to reach out should you have any questions, or if you would like to just chat.

Stay safe and healthy.

All the best,

Eddie and Steve


See Also:

13 steps to take if you’ve lost your job due to the coronavirus crisis on Bankrate.com

Virtual Open House

The health and well-being of our customers is our #1 priority. Making the move to a new home is one of the biggest decisions one will ever make. At Compass, we are working closely with our support teams to provide a personal virtual open house experience to everyone. While potential buyers may not be physically present for an open house or walkthrough, virtual open houses allow us to continue to provide you with best-in-class service during this time.

Virtual Open House

We have the ability to take a targeted audience on a digital journey through your premier properties. 

Through Virtual Tours, FaceTime and social media, we have been able to showcase the key features of your property to interested clientele. The Compass YouTube channel currently has 3.4M+ views. 

Tour These Virtual Open Houses

490 M Street SW W603
Southwest Waterfront
1 Bed | 1 Bath | Garage



560 N Street SW N413
Southwest Waterfront
1 Bed | Den | 1 Bath
Walk Through or Explore on Your Own



222 Farragut St NW 201
Petworth
1 Bed | 1 Bath

Worried About Making Your Mortgage Payment?

“To meet the needs of borrowers who may be impacted by the coronavirus, … Fannie Mae and Freddie Mac reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment,” FHFA Director Mark Calabria said in a statement. “For borrowers that may be experiencing a hardship, I encourage you to reach out to your servicer.”

Read more: http://bit.ly/MortgageForbearance

Compass DMV Market Report

Interested in keeping track of your neighborhood’s real estate activity?

Check out 2019’s 4th Quarter Compass DMV Market Report!

Bringing you regional data four times a year, the Compass Market Report highlights some of the most bustling communities in DC, Maryland, and Virginia for residential activity, so you can stay up to date on market trends in the neighborhoods that you care about the most! 

Compass Continues to Elevate the Real Estate Industry

Coming Soon Sign

In 2018, Compass introduced the Compass Coming Soon status for homes coming on the market. 

One feature of Compass Coming Soon is the gathering of insight during the Coming Soon period. 

With Compass Coming Soon, Sellers can adjust sales price until their homes  are in “Active” status with no price history being recorded.

On January 28, 2020, BrightMLS — a multiple listing service for REALTORS from New Jersey to Virginia — announced it was copying that feature of Compass Coming Soon,

“… all listings in the Coming Soon status will not show the pricing changes in the history or note a price change on the recent changes section of the listing. “

To quote Charles Calen Colton, 

“Imitation is the sincerest (form) of flattery”

Compass is building the first modern real estate platform, pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless.

A new offering for Compass clients

A simple solution to bridge the gap between the home you have and the home you want.

Compass Bridge Loan Services gets you access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted when you sell your home with a Compass agent.

To learn more contact us or visit bit.ly/bridgeloanservices

Thinking of making home improvements?

Thinking of making home improvements? Cover your bases with these simple tips:

• Educate yourself on the local permitting requirements, or your co-op or condo association’s policies.

• Hire licensed and bonded contractors for all of the work.

• Ask your contractor to provide you with copies of the permits (if required) at the time the work is being done.

• Post a copy of the permits in the front window to notify your neighbors that you are following the law.

And if you are wondering what improvements will pay off when you sell later on, please contact us give us a call!