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REAL ESTATE UPDATES AUGUST 2020
2020 has been a challenging year. With so much happening across the country, you might be wondering how the current crisis is impacting real estate trends.
Whether you’re selling, buying or staying put, here's a roundup of the latest.
Buyer's Market
Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com® saw a million unique users in June 2020, breaking May’s record of 85 million unique users. Realtor.com®'s daily traffic also hit its highest level ever of 7 million unique users on June 25, signaling that despite the global pandemic buyers are ready to make a purchase.
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Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:
“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”
- Sam Khater, Chief Economist at Freddie Mac |
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