Homeowner Tax Breaks

COVID-19s Financial Impact

A recent DSnews report reviews how homeowners and potential homebuyers are faring during the ongoing COVID-19 pandemic. LendingTree conducted a survey at the end of June to determine how the health crisis is impacting financial situations and people’s ability to pay their mortgage loans. Roughly 1,000 Americans were surveyed. The data revealed that half of
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Working Remotely Impacts Home Buying

Recent reports from Realtor.com and MReport have concluded that the work-from-home requirements created during the COVID-19 pandemic could really impact home buying. Realtor.com conducted a survey in early June that polled roughly 2,000 potential home buyers. The home shoppers had indicated they had plans to make a home purchase within the next year. About 60%
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Slow Rent Price Growth

Rent prices report slowest growth since 2010, according to a recent DSnews report. CoreLogic’s Single-Family Rent Index revealed that single-family rents rose roughly 1.5% annually in May 2020, which is the lowest growth since July 2010. CoreLogic concluded that rental demand is still impacted by the high unemployment rates and stay at home orders, even
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Unemployment Rates Declining

According to a recent DSnews report, the U.S. economy added almost 5 million jobs in June! With these new jobs, according to the Bureau of Labor and Statistics the unemployment rate has fallen to 11.1%. The BLS revealed that the total number of unemployed Americans fell by 3.2 million to 17.88 million. Unemployment rates decline
Happy couple receiving keys from estate agent

Bidding Wars on the Rise

According to a recent MReport, bidding wars for homes have been ramping up. Redfin revealed that more than 50% of its offers faced competition last month. June was the second consecutive month that bidding wars were on the rise. Redfin reported the competition is most likely due to limited supply of homes for sale, as

Missed House Payments

More Americans are missing their house payments according to a recent MReport. In May, another 723,000 homeowners became past due on their mortgages. This pushed the national delinquency rate to 8.5, which is the highest level in years. There are now roughly 4.3 million American homeowners who are past due on their mortgages or in
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Eviction and Foreclosure Moratorium Extended

According to a recent DSnews report, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will extend their single-family moratorium on foreclosures and evictions until at least August 31, 2020. The current moratorium was set to expire on June 30, so they are being given an extra two months. The FHFA is
Mortgage application form with a calculator and house.

Mortgage Rates Fall

According to a recent MReport, mortgage rates fall to an all time low. Data from Freddie Mac’s Primary Mortgage Market Survey revealed that while the economy has been rocky since the COVID-19 outbreak, the housing market is on the road to recovery. The survey concluded that mortgage rates hit a new all-time low, as the

Housing Activity has Increased

According to a recent MReport, housing activity has increased and newly-pending sales grew 13.6% last week and 28.5% monthly. Zillow reported that while new listings increased to 16.9%, they are still roughly 19% lower than they were a year ago. The total for-sale inventory fell 2.6% in the first week of June and is down
Receiving keys after purchasing a new home.

Importance of Real Estate Agents on the Rise

According to a recent MReport, there has been a growing importance of real estate agents during the COVID-19 pandemic. The National Association of Realtors conducted a survey, which found that 65% of potential buyers who went to an open house within the last year felt comfortable with the social distancing precautions. The potential buyers also
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How Much are Buyers Willing to Spend?

According to a recent MReport, prospective buyers are willing to pay more for the home they want. Lombardo Living conducted a survey which found that 41% of buyers would go over budget by an average of $25,000. They also found that average buyers look at more than 19 properties within a four month period as
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Unemployment Claims During COVID-19

According to a recent MReport, there are more than 30 million Americans claiming unemployment benefits. The U.S. Department of Labor reported that an additional 2.12 million Americans filed for unemployment this week. This is a slight decline from the week before, when 2.44 million claimed unemployment. Doug Duncan, Chief Economist at Fannie Mae, stated that