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Home Buying Up, Hotels Optimistic, Cruise Line Web Traffic Sluggish

  • Mixed effects in roundup of COVID-19 business news
  • Real estate stays robust during pandemic, with a boost in home buying
  • Hotels optimistic for resumption in business, while cruise line web traffic falls sharply

A roundup of business news related to the COVID-19 pandemic finds that some areas of the economy remain strong while others continue to struggle.

Home buying for the week ending July 3 rose to its highest level in almost a month, representing an annual increase of 33 percent. The average purchase loan also increased as buyers contended with a limited housing inventory and higher home prices.

At an investor presentation, Choice Hotels expressed optimism that a pent-up demand for leisure travel will improve its revenues in the near future. The company noted how many of its properties are easily accessible by car and located near attractions such as beaches or national parks.

Traffic to the websites of major cruise lines is down 74 percent from the previous years. Cruise lines largely ceased their marketing efforts during the pandemic.

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