U.S. Housing Market Activity Increasing Since the Onset of COVID-19

About Us

We are the leader in the mobility industry and the only globally integrated mobility service solutions company.

Meet Sirva: Your Full-Service Mobility Solution

Sirva is recognized as the preeminent leader in the mobility industry and the only globally integrated mobility service solutions company. Our worldwide team of mobility experts offers the most comprehensive portfolio of value-added services and technology solutions to HR and Mobility leaders and mobile employees. We help guide employees through the relocation process to ensure a seamless experience, providing the perfect blend of self-service and personalized support. Whether you are relocating a key executive for the first time or an entire team of engineers overseas, Sirva enables you to fully outsource your program or design a customized solution.

Sirva at a Glance

Sirva has an impressive global reach, supported by a vast worldwide partner network. We serve clients across many industry sectors and geographies. Our team, consisting of thousands of dedicated employees who speak a multitude of languages and represent diverse nationalities, is the cornerstone of our success. We are proud to hold a significant market share in the industry and continuously set new standards of excellence and innovation. Sirva's is committed to delivering outstanding service and is dedicated to excellence and continuous improvement.

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Setting the Standard

Sirva’s scope of services is unmatched in the mobility industry, allowing us to offer you truly strategic solutions and customized service options. We are the only company to integrate globally delivered services for relocation, moving, mortgage and more, along with internal expertise in cultural training, immigration, and destination support.

As the recognized leader in our industry, we pride ourselves in raising the bar by offering our clients and customers next-level services and support.

EXCEPTIONAL CUSTOMER EXPERIENCE

Our delivery model is comprised of dedicated consultants, 24/7 global support, and omnichannel access, allowing consultants to focus on meaningful interactions.

COST OPTIMIZATION

Sirva offers innovative cost optimization solutions including RiskGuard®, the industry’s only fixed fee U.S. home sale program, which simplifies budgeting, eliminates home inventory, and avoids home sale management.

FINANCIAL SERVICES EXPERTISE

Our in-house global financial experts offer consultative expertise, managing all financial services and specializing in accounting, relocation tax, compensation, and payroll.

LEADING DIGITAL SOLUTIONS

An API integration, with leading HRIS platforms and secure data management for reporting and analytics, enhances the mobility process.

BROAD IN-HOUSE RESOURCES

Our destination, immigration, home sale, and household goods teams work closely with our supply chain to continuously drive improvements and innovation.

SUPPLY CHAIN STRENGTH

Professionally managed and integrated direct delivery model ensures an optimal balance of performance, cost, and flexibility.

An Inspired Approach

As the world of work continues to change, organizations are exploring new ways to meet today’s growing business demands. We identified four key principals that were most important to our customers, and we use these elements as core values that guide every action we take. Our dedication to global mobility and talent management is underpinned by our collective desire to deliver an exceptional move experience from start to finish. We’re passionate about what we do and deliberate in how we do it.

We are guided by four key principles that underscore our ongoing commitment to delivering an exceptional client and customer experience:

Smart.

Technology and data are at the forefront of every move. Before we react, we check the research.

HELPFUL

Everything we do is done with the intent of solving a problem, being supportive, or showing that we care.

HUMAN

We embrace all people, experiences, and perspectives, acting with courage, honesty, and integrity.

RESPONSIBLE

Our goal is to serve as a positive change agent in society and contribute to the sustainability of our planet.

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Our Approach

Sirva's-dedicated-relocation-leadership-team

Meet Sirva's Executive Leadership Team

Our management team is driven by an ongoing commitment to deliver an exceptional experience for you and the employees you move. As the world of work continues to evolve, you can rest assured that we are focused on meeting and exceeding your needs with flexibility, cutting-edge technology, and seamless processes. Our passion for improving lives shows with every decision we make.

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Let Us Help You

Sirva can provide you with the resources, guidance, and support you need to achieve the best possible mobility experience for your talent and your organization. We bring together personalized program solutions, expansive global reach, innovative technology, and an unmatched supply chain to transform your business. We can help empower your talent moving to their next opportunity and deliver an exceptional experience.

If you would like to know more about how we can help you meet your evolving talent needs and ensure that your mobility program remains agile and competitive for the future, please contact us now.

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Prior to the outbreak of COVID-19, new-home sales had risen to a higher level than had been seen in years. Price appreciation was booming: Little inventory was available, mortgage rates were low, and home prices were steadily increasing, all of which created a uniquely positive time for both buyers and sellers. When the pandemic started in the United States, however, the outlook was grim as job losses mounted and the economy took a sharp downturn. Surprisingly, despite a lull in April, the U.S. real estate market rebounded quickly. While market conditions can often fluctuate, currently, home listing and sale activity is stronger than pre-pandemic levels. As we’ll discuss below, current circumstances indicate that now may be the ideal time for individuals to list and sell their homes.

Current Real Estate Trends

Continued Lack of Inventory: The number of home seekers continues to outnumber the number of available options on the market. This creates desirable conditions for homeowners who do list their properties, since their homes are in demand.

Low Interest Rates: Interest rates have dipped historically low, making the prospect of buying a home more appealing and affordable for well qualified buyers.

A Shift from Renting to an Interest in Buying: Many renters are considering purchasing homes for a variety of reasons, some of them for the first time. Some are seeing the advantages of homeownership – from owning an asset to having greater control over their living spaces; thanks to low mortgage rates, they are also finding this option feasible. Depending on the area and scenario, others are finding that a mortgage payment would be lower than their monthly rent. Others are seeking to leave crowded cities for more personal space in the suburbs in response to the pandemic.

Resulting Impacts on the U.S. Real Estate Market

As a result of the above trends, SIRVA has seen significant impacts on the current U.S. real estate market. As a result of low inventory and mortgage rates, we’ve seen buyers “bidding up” to win their properties of choice which, in turn, has driven sale prices up and the number of days a home spends on the market down. SIRVA data shows that, since May 1, 2020, home values are up almost 5 percent and the average number of days on the market has dropped 8 percent compared to last year.

Unemployment rates will likely impact the housing market in the future, should the economy continue to see extended shutdowns.

What this Means for Homeowners

While the uncertainty surrounding the pandemic can be a concern for some individuals, thanks to the trends and impacts listed above, now may be the perfect time for homeowners to list their homes if they’re considering doing so. Competitive bidding and higher sale prices can be strong incentives – along with the knowledge that there are plenty of potential buyers in line who are interested in making a purchase. For assistance, please contact us at concierge@sirva.com.

SIRVA manages over 5,000 home sales and 14,000 home purchases, annually. During these unprecedented times, our employees and agents continue to provide guidance and support when companies and their employees have decided to move forward with selling or purchasing a home. Please work with your relocation consultant for the most up-to-date information, as the market continues to fluctuate.

Sources:

Joel Kan. Fed Puts Rate Cuts on Hold: MBA Economic and Mortgage Finance Commentary: January 20, 2019. www.mba.org. MBA Forecast Commentary. January 20, 2019. (Accessed August 17, 2020.) file:///C:/Users/ZZZ2120/Downloads/Forecast%20Commentary%20Jan%202020%20(3).pdf

Diana Olick. Lower Mortgage Rates are Causing an Epic Housing Shortage. www.cnbc.com. Real Estate. October 15, 2019. (Accessed August 17, 2020.) https://www.cnbc.com/2019/10/15/lower-mortgage-rates-are-causing-an-epic-housing-shortage.html

Diana Olick. Existing Home Sales Plunge in May, but Realtors Think That was the Bottom. www.cnbc.com. Real Estate. June 22, 2020 (Accessed August 17, 2020.) https://www.cnbc.com/2020/06/22/existing-home-sales-plunge-in-may-but-realtors-think-that-was-the-bottom.html

Angela Waugaman. Mortgage Rates Drop, Reaching Another All Time Low. www.globenewswire.com. Freddie Mac. June 18, 2020 (Accessed August 17, 2020.) https://www.globenewswire.com/news-release/2020/06/18/2050255/0/en/Mortgage-Rates-Drop-Reaching-Another-All-Time-Low.html#:~:text=MCLEAN%2C%20Va.%2C%20June%2018,which%20dates%20back%20to%201971.

Amanda Lauren. How Coronavirus is Impacting Home Buyers and Sellers. www.forbes.com. March 6, 2020. (Accessed August 17, 2020.) https://www.forbes.com/sites/amandalauren/2020/03/06/coronavirus-is-a-public-health-crisis-but-a-boon-to-real-estate-buyers/#103cef5c436b

Realtor.com. 2020 Housing Market Predictions: COVID-19 Update. www.realtor.com. May 2020. (Accessed August 17, 2020.) https://www.realtor.com/research/2020-housing-market-predictions-covid-19-update/

Contributors:

Margaret DeLuca | Director, Real Estate Risk

Lisa Marie DeSanto | Manager, Content Marketing

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