National Association of REALTORS®️ 2020 Market Recovery Survey
NAR recently surveyed 2,300 members to get a pulse on the housing market recovery. We put the key homebuyer and renter trends into a single infographic. Take a look on the New Western blog.
Second Stimulus Check Now More Likely Than Ever
Speaking from the Senate floor on Tuesday, Senate Majority Leader Mitch McConnell announced his backing for more stimulus. “We want another round of direct payments,” he said. “Direct payments to help families keep driving our national comeback.” CNET offered their thoughts on what that could mean for you and the possible size of the next check.
Forbearance Rate Drops to 2-Month Low
The forbearance rate of mortgages backed by Fannie Mae and Freddie Mac dropped to a three-month low of 5.64%, while the overall rate fell to 7.8%, the lowest in more than two months. “This is the biggest improvement in the data since the crisis began,” said Jaret Seiberg, managing director of Cowen Washington Research Group. Read on for a rundown of the numbers.
Tenant Turnover in COVID Times: Real Estate Experts Weigh In
According to real estate investor and entrepreneur Nathan Miller, “landlords and property managers are finding their way toward ‘the new normal’ with creative ways to handle everyday routines and necessary tasks.” In his article on the BiggerPockets blog, Miller offers best practices for handling challenging issues such as tenant turnover during the pandemic.
Despite Slow Down, US Single-Family Rents Still Up
According to CoreLogic’s Single Family Rent Index, rent increases slowed across all price levels in May, with an increase of 1.7% year over year. Rents for lower-priced homes increased faster than those of higher-priced homes compared with a year earlier. Phoenix topped the list with a 6% increase in rent prices compared to last year.