Real Estate News 2020 May 9

Real Estate News 2020 May 9

Record low rates: There is at least one bright spot amid the economic mayhem brought on by the novel coronavirus. Average mortgage interest rates have fallen to new record lows, a boon to both potential buyers and homeowners who may want to refinance. It adds up over the life of that 30-year loan. –

Demand returns: Home-buying demand is making a speedy recovery, within 15% of pre-pandemic levels as of April 27 after plummeting as much as 34% in March. In the seven days ended April 24, almost 53,000 new homes hit the market. Still, there were fewer than 700,000 homes for sale, the lowest inventory level in five years.  Redfin

Mary Smith Headshot
Phone: 206-953-5090
Dated: May 9th 2020
Views: 45
About Mary: Hello, my name is Mary Smith with RE/MAX Realty South and I serve in King County. I was awarded Re...

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