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MARKET UPDATES

JUNE MARKET UPDATES

Bidding War During the Pandemic  A new study from Clever revealed that 42% of homebuyers who made a purchase during the January to May time period ended up in a bidding war, demonstrating the strong demand for homes amid low inventory. In addition, the study showed the strains caused by COVID-19 shutdowns, which resulted in…

MARCH MARKET UPDATE

COVID-19 EDITION SHIFTING STATS Stay-at-home orders appear to be influencing the decision to put properties on the market. The number of homes listed for sale fell 13.1% for the week ending March 21 and 34% in the week ending March 28 according to Realtor.com. Home price growth slowed during the same two weeks to 3.3%…

FEBRUARY MARKET

RATE RECORD  In spite of pandemic fears, the housing market is healthy according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending March 5. Freddie’s analysts summed up last week’s activity saying, “The average 30-year fixed-rate mortgage (FRM) hit the lowest level in its nearly 50-year history. Given these strong indicators in…