Mortgage applications from buyers jump 11%, signaling the spring housing market may not be a total loss
"As some states reopen from the nationwide coronavirus shutdown and open houses reemerge, buyers are coming back to the housing market much faster than expected.
Buyer demand kept mortgage application in the positive last week, up 0.3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Applications to purchase a home rose for the fourth straight week, jumping a decisive 11%. They were still 10% lower compared with the same week one year ago but that annual loss has been shrinking markedly..."
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US Build-to-Rent Payments Pick Up in May
"Income for the US build-to-rent sector has returned to pre-Covid-19 levels however the industry is not out of the woods yet.
From a survey of 11.4 million apartments in the country 80.2 per cent of households made a full or partial rent by 6 May according to the National Multifamily Housing Council rent payment tracker.
This result came despite more than 1.36 million people becoming infected with the virus since mid-March and more than 20 million people losing their jobs in April..."
D.R. Horton Is Upbeat For the Homebuilding Sector Despite COVID-19
"For homebuilders, the first-quarter earnings season has been a tale of pre-COVID and post-COVID. The residential real estate sector was having its best year in over a decade going into the spring selling season. Given the free-fall in the economy, homebuilders should be struggling; however, at first glance, it appears things are not as bad as feared..."
How Housing Choices For Millennials Could Change In A Post-Coronavirus World
"Just when we were starting to trumpet the return of the entry-level home buyer, after years in which builders ignored that segment, we get another mind-bending recession. How will this affect home-buying and renting behavior?
To say that Millennials had a tough time after they graduated is an understatement. Millennials who were 22 years old in 2008, excited to start their career and maybe buy a house, stepped into a collapsing economy. “Go back and live with your folks,” the fates seemed to be saying."
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