Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

How will COVID-19 impact this year's homebuying demand?

How will COVID-19 impact this year's homebuying demand?

FromHousingWire Daily


How will COVID-19 impact this year's homebuying demand?

FromHousingWire Daily

ratings:
Length:
9 minutes
Released:
May 22, 2020
Format:
Podcast episode

Description

In today’s Daily Download episode, HousingWire Digital Producer Alcynna Lloyd interviews Odeta Kushi, deputy chief economist at First American Financial, about the COVID-19 pandemic’s impact on this year’s homebuying demand.For some background on the interview, here’s what has happened in the industry so far:At the end of February and the beginning of March, it was projected that the spring homebuying season would arrive early.In fact, January 2020 was the strongest January for purchase mortgage applications in 11 years, according to the Mortgage Bankers Association.The beginning of March also showed that homebuyers were anxious to get moving into homebuying season, but that was before the coronavirus changed everything.Although there were still homes being sold in early March, they were likely under contract in February, before COVID-19 forced most of the U.S. economy to shut down, Redfin said.But towards the end of March, when stay-at-home orders were put into place and people were left unemployed, there was a 148% year-over-year increase in homes being delisted during the week ending March 29, coming to a total of 28,140 homes pulled off the market, according to Redfin.The Daily Download examines the most captivating articles reported from the HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode:New listings and home sales drop in what would have been peak homebuying seasonMortgage rate drops to within 1 basis point of all-time lowHousing starts plummet to a five-year lowMortgage refinancings set to surge to a 17-year highApril home sales take biggest hit in almost a decade
Released:
May 22, 2020
Format:
Podcast episode

Titles in the series (100)

HousingWire Daily examines the most compelling mortgage, real estate, and fintech articles reported across HW Media. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by the HW Media team.