Millennials Are Fueling Housing’s Rebound : First-time buyers in their 20s and 30s are flocking to the market in higher numbers due to low mortgage rates and changing needs during the pandemic.
July 2020 Existing and Pending Home Sales : Home sales in July were higher than last month and than a year ago, and mortgage rates are at record lows. However, tight inventory remains a hurdle, and the economy is not yet back to normal.
Hurricanes, Wildfires, Pandemic: Mortgage Help Is Available : Disasters are mounting, but struggling homeowners can find assistance. Freddie Mac and Fannie Mae offer forbearance programs for up to 12 months.
Homes Are Going Under Contract in Record Time : NAR’s Chief Economist Lawrence Yun says there are no indications that contract activity will wane anytime soon, particularly in the suburbs.
Millennials Could Prompt Condo Resurgence : Given affordability challenges in many markets, condos could be a viable option for a growing number of first-time home buyers, according to a new report from CoreLogic.
VA Loans Surge to Best Year Ever : Home loans through the Department of Veterans Affairs have climbed 114% this year. These metros are seeing the most veteran buying activity.
July Home Sales Show Recovery Is Sticking : Extending record gains from June, “the housing market is now booming,” NAR Chief Economist Lawrence Yun says.
How Strict Zoning Creates Commercial Challenges : One solution for building more affordable housing lies in “mini opportunity zones.” From the virtual 2020 NAR Leadership Summit, August 17-19
How Real Estate Investors are Preparing for Environmental Changes : While climate risks continue to affect the housing market, industry leaders innovate for a more sustainable future.
Lending Giant Rolls Out 1.99% Mortgage Rate : “I never thought I would see a rate starting with a ‘1,’ but I also never thought I would see a worldwide pandemic—and that’s what it took,” says one mortgage broker.
New Refinancing Fee Could Roil Mortgage Market : The Federal Housing Finance Agency’s move to charge refinancing homeowners an extra $1,500 is “ill-timed,” experts say.
The Most Popular Home Updates During the Pandemic : Owners staying home have turned their attention to renovations. Which projects are they investing in?
Home Prices Continue to Accelerate : Fifteen metros saw double-digit price growth in the second quarter. Read more from NAR’s latest quarterly housing report.
3 Ways to Improve Chances of a Favorable Appraisal : Property condition is paramount when evaluating a home. Spruce up these spots to make a house show in its best light.
FTC: Beware of Scammers Eyeing Mortgage Assistance : Americans have lost about $106 million to fraud related to COVID-19 so far this year. Tell your clients how to avoid losses.
August Poised for 2020 Homebuying Peak : The pandemic has pushed the annual high for real estate activity, which is typically May. Are you ready for the rush?