Archive for December 2020
Redfin: 14.5 Million Americans Will Move Out of Town in 2021, Fueling 10% Sales Growth
It’s that time of the year, folks, when prognosticators dust off their crystal balls, consult the oracles and offer their predictions for the coming year. Redfin, Seattle, kicks things off with a bold prediction: after nearly a year of the devastating effects of the coronavirus, more people will relocate in 2021 than in the previous…
Read MoreSuburbs See Greatest Gain in Single-Family Construction in Q3
The National Association of Home Builders‘ Home Building Geography Index found that during the third quarter, the exodus from big cities to the suburbs and less expensive areas increased as people continue to work remotely. According to the HBGI, suburbs of medium-sized cities posted the greatest single-family gains in Q3, as there was a 15% growth rate over the last…
Read MoreAnother record low mortgage rate just caused demand to jump for both refinances and home purchases
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) decreased to a survey low of 2.92% from 2.99%. Mortgage applications to purchase a home rose 4% for the week and were 19% higher than the same week one year ago. Mortgage interest rates have set record lows more…
Read More