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Blog Category - Housing Market

How To Think About Buying a Home During the COVID-19 Pandemic

Categories: Housing Market | Posted: April 28, 2020

How To Think About Buying a Home During the COVID-19 PandemicAs we make adjustments to our day to day lives to protect ourselves and our families from the spread of the coronavirus, those who are on the lookout for a new place to call home might find themselves with extra questions. There is plenty of uncertainty about the logistical process of buying a home as well as how to adjust personal financial ambitions to a shifting market. What is the best way to plan during this period of uncertainty financially? Should I jump on low mortgage rates? Will the housing market remain favorable to buyers in the coming months? Based on how markets have responded to past pandemics, there’s some hope – SARS, H1N1, and other outbreaks in recent history caused short-term strains on the market. Fortunately, research points to a housing market that is stable enough to withstand these uncertain times.

Here’s some more good news: the intricate parts of the home buying process are going virtual. Home inspectors are encouraged to use Facetime or Skype to run their inspections with the buyer dialed in remotely. Lenders are backing off somewhat on in-home appraisals, making it easier to lock in a mortgage without being onsite. Closing on a house via electronic signature, or by mailing a signed document, is becoming standard for buyers.

At H&H Homes, we are ready to put your health first and can accommodate your needs in pursuing a home purchase as we navigate the period of the coronavirus together. Get in touch today to learn more about us.

Why Will the Housing Market Stay Strong Throughout 2020?

Categories: Housing Market | Posted: April 22, 2020

Springtime’s special flavor of renewal and growth often coincides with a spike in homebuying. This year, as late winter fades away, the less sunny news of COVID-19’s spread around the globe raises questions about what we can expect from the coming months. One helpful study from Zillow reveals that the housing market has remained relatively stable throughout pandemics in the past. What’s more, the federal government is taking key measures to ensure the general health of the market with its moratorium on foreclosures and grace periods for mortgage payments. Unlike other forms of investment, housing is not strictly financial – buying a house also comes with the comfort and stability of a place to live and is an exciting new beginning for individuals, couples, and families.

For this reason, predictions state that the housing market is expected to remain more stable than most other areas of the national economy throughout 2020. Perhaps most important, the National Association of Home Builders reports that builders continue to move forward with confidence to meet the need of today’s buyer’s market. Before the coronavirus’ outbreak, the conditions were in place for a healthy, competitive housing market. With limited impacts on the mortgage industry’s ability to lend, the housing market is likely to be restored to where it was in the pre-pandemic 2020.