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MARKET

Is the Real Estate Market Going to Crash?

While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last? When COVID-related shutdowns began last March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether…

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…