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It may seem like there is no end in sight for the pandemic, but the industries affected most by COVID-19, including housing, are witnessing improvements. With mortgage rates dropping, CNBC reports that mortgage applications for buying single-family homes are up 21% compared to 2019. This is not a fleeting trend, as applications have reached their highest levels for nine consecutive weeks. Though other industries are slowly making their way back to normalcy, albeit a new one, the housing market comes out as the strongest.
With states continuing to lift coronavirus restrictions, people across the U.S. have felt more comfortable traveling, taking transit, eating out and even moving to a new home.
Improvement across the travel and restaurant industries, as well as the housing market, could signal that a broader economic recovery is on the horizon even though the pandemic is still ongoing.
These five charts illustrate trends in key economic indicators that help track reopening progress in the U.S.
Travelers are relying more on Apple Maps for help regarding public transportation, according to the latest data from the navigation app. Transit directions from the app are at almost half of what they were in January as more people return to work in urban centers like New York City and San Francisco. However, requests for walking and driving directions fell lower than what they were earlier in June.
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