A growing number of Americans are considering fleeing cities for the suburbs, to put more distance between themselves and their neighbors. Video home tours, a trend that was already increasing, may become routine.
Now, applications to buy a home are again on the rise as states lift orders to stay inside. But the pandemic has altered how residential property is bought and sold, changes that aren't likely to disappear any time soon and that could reshape the American dream long after the current crisis has passed.
But millennials remain eager to buy a place of their own, experts say. And with interest rates hovering at 3.41%, a near record low, a housing rebound could start as soon as this summer."You still have a lot of households at the point where they're interested in home buying,'' says Mike Fratantoni, chief economist for the MBA."As some states have begun to reopen, we’ve seen a rapid pickup and ... very strong growth in purchase applications.
But “sales will be higher by 15% to 20% in 2021 because more listings will steadily appear as the state economies steadily reopen,'' says Lawrence Yun, NAR’s chief economist,A growing number of those sales might be in less crowded communities. Data from the Harris Poll found that almost a third of Americans are thinking about moving to less densely populated areas. And 43% of city dwellers had recently checked a real estate site for a house or apartment to rent or buy as compared to 26% of those in the suburbs, and 21% of those in rural areas.
That's a steep climb for many buyers who typically put down between 3% to 5% on their first home, says Odeta Kushi, deputy chief economist at First American Financial Corporation.“Low mortgage rates will bump up demand and make housing more affordable,” says Kushi. “The bigger issue is economic uncertainty. Many people feel insecure about their job stability.”Those who are able to buy a home may find that much, if not all, of the process has gone virtual.
Van Fletcher, a broker/realtor with Allen Tate Realtors in Raleigh, North Carolina, was able to continue taking his clients, Liz Stokley and Ryan Stephens, on virtual tours, even as the couple stayed put in Baltimore.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
103-Yr-Old Red Sox Fan Celebrates Beating COVID W/ Beer Chug, Amazing Video!This is AWESOME!!!!
続きを読む »
Melanie C Becomes Video Game Character in 'Blame It on Me' VideoMelanie C is the ultimate fighter in the action-packed 'Blame It on Me' video
続きを読む »
Weyes Blood Releases Video for 'Wild Time,' Announces 2021 AlbumWeyesBlood (weyesblood) released a new self-directed video for her song “Wild Time' and hinted at a release in 2021:
続きを読む »
Weyes Blood Drops 'Wild Time' Video, Announces New AlbumSinger-songwriter also cancels 2020 shows due to COVID-19 pandemic
続きを読む »
Teen Who Recorded George Floyd Video Traumatized from BacklashDarnella Frazier, the teen who filmed police kill George Floyd, has had a rough past few days to navigate.
続きを読む »
Surveillance Video Shows George Floyd Before Killing, Mayor Calls for ChargesThis video shows what happened moments before George Floyd had a cop's knee cutting off his airway.
続きを読む »