Realtor.com has published the top 10 hottest zips of 2020.
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The low mortgage rate environment has led to a refinancing boom in 2020, and the trend is likely to continue with rates holding steady at all-time lows.
Many people are looking at their homes differently due to the recent pandemic, as a home and as a workspace. Improving their home office, wanting more space and low-interest rates are contributing to the increasing demand for new homes.
According to recent Bankrate article, the home appraisal process has changed during the pandemic.
As states start to lift restrictions, more people are resuming their search to buy a home. Mortgage Bankers Association’s Purchase Index shows the sixth consecutive weekly increase in purchase applications and a jump of 54 percent since early April. While new home sales also rose in April, seeing a gain of 0.6% from March according to the Commerce Department.
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