How to identify home lending opportunities
There’s something old and reliable about the annual Spring and Summer real estate boom. Like clockwork, buyers and sellers come out of the cold eager to upgrade, downsize, or refinance. Even in the thick of the pandemic last year, the Census Bureau reported a 43% increase in home sales August of 2020 vs. the previous year. This increase was largely driven by Millenial and first-time home buyers who expanded into suburban areas1.
Home has taken on new significance in the post-Covid world. Now home is not just where you return to at the end of each day – it’s a refuge, an office, a school, a recreation center, your favorite bar and restaurant. And as more jobs are going remote, with commuting being less of a factor, Americans are freer than ever to live where they want and in exactly the home they desire.
Real estate experts predict that 2021 will be a strong year for home sales and continued low interest rates, but cautiously remind that there is presently a low level of inventory3. Additionally, they note, rates may climb slightly as the economy strengthens2. For even more loan rate predictions, check out this Time.com article where several financial experts face off and share their unique perspectives.