The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains: “Home … [Read more...] about Buyer Interest Is Growing among Younger Generations
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need. First, there was a pause placed on initiating … [Read more...] about Do You Need to Know More about Forbearance and Mortgage Relief Options?
The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year. As … [Read more...] about How Will the Presidential Election Impact Real Estate?
So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of … [Read more...] about Homeownership Rate Continues to Rise in 2020
The 2020 Millennial Home Buyer Report shows how this generation is not really any different from previous ones when it comes to homeownership goals: “The majority of millennials not only want to own a home, but 84% of millennials in 2019 considered it a major part of the American Dream.” Unfortunately, the myths surrounding the barriers to homeownership – … [Read more...] about Two Big Myths in the Homebuying Process