RE Rundown (7/16/20)
Real Estate Among ‘Industries to Watch’ Post-COVID-19
A bigger backyard🏡, a home office, more space, and lower prices. These are just some of the benefits people are searching for, which will cause an even stronger 👍turnaround than expected for upcoming home sales. Marketwatch says Real Estate is a top 5 industry to watch.
Things aren’t as bad as they look, say Feds
Despite the recent resurgence of Covid-19 cases, things are looking up ⬆according to the Fed. Chief economist Doug Duncan says that home sales’ strength will depend on inventory constraints and owners’ confidence to list their homes. Even with low inventories, buyers aren’t moving away from the housing market 🏠.
Young adults are more likely to have moved because of COVID-19
The pandemic is not completely disrupting future homeowners’ plans. Those that moved the most due to Covid-19 were young adults 👨💻👩💻due to job losses and the shutdown of college housing, according to a survey from Pew Research Center. Still, older millennials are staying positive 🙂 and claim they plan on becoming homeowners within the next five years.
Here’s how much you’ll really need to buy your first home (Hint: It’s more than you think)
When buying a house 🏠, the down payment always seems to be at the forefront of the buyer's mind. This article examines the additional costs, including mortgage rates, closing costs, moving costs, and maintenance funds 💰. The author urges potential buyers to consider these hidden costs closely 🔬 to invest in their future financial security.
Bidding Wars Are Back in Housing Market Stung by Pandemic
This spring selling season 🍃has been far from “normal.” On the pandemic's heels, buyers flooded 🌊 the housing market, fighting over the limited quantity of homes on the market. Single-family homes have become the most sought after, as everyone continues their shelter in place 😷.