Newsmakers and Quotables July 2020

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Real Estate

DID YOU KNOW?

Homewnership Rate Increased During the Pandemic, According to U.S. Census (U.S Census Bureau):

The Q2 U.S. homeownership rate was 67.9%, up from 64.1% in Q2 2019, and up from 65.3% in Q1 2020. The homeownership rate among the age group 35 to 44 increased 4.9 percentage points during the second quarter to 64.3%.  This age group experienced the highest gains in homeownership in the second quarter of the year. All regions saw an uptick in the homeownership rate.

 As Americans Daydream about Real Estate, Zillow tallies Record Usership (Inman August 14):

As quarantining Americans window shop for new homes, Zillow’s mobile app surged to 21.7 million daily active users on Thursday August 13, according to Apptopia.

 The Top Real Estate Terms for Consumers Searching Online (Realtor Magazine Online August 11):

According to Google Trends, consumers are showing greater interest in learning more about mortgages and finance regarding the homebuying process.  Here are some of the most popular current search terms:

“Refinance home loan calculator”  (up nearly 4,000% last week)

“Can you use your 401(k) to buy a house?”  (up 2,800% in the past 3 months)

“How low will mortgage rates go?”  (searches have quadrupled in the past week)

“Process of buying a house”  (surged 950%).

“Minimum credit score to buy a house”  is another popular Google search topic.

For sellers looking to sell, we are experiencing very low inventory and SUPER HIGH demand.  You could potentially get the highest possible price for your home