Home Flipping Trends (2nd Quarter, 2020)

• Home Flipping Decline!
• But Profits Rebound!
• 53,621 single-family homes & condominiums in the United States were flipped.
• 6.7 percent of all home sales, or one in 15 transactions.

Full Article & Video:

https://www.attomdata.com/news/market-trends/flipping/attom-data-solutions-q2-2020-u-s-home-flipping-report/

Top 125 Most Expensive Zip Codes In The Country

• Only 15 States Contain the 125 Most Expensive Zip Codes in the U.S.
• California has 87 of them by itself.  Followed by New York with 19.

2020 The 100 Priciest Zip Codes of H1 in NYC v2
Infogram

Mortgage Rates Once Again Hit an All Time Low! 2.86% & 2.37% (National Avg.)

• 30-year fixed loan Average for Rates, fell to 2.86%! 
• 15-year fixed loan Average for Rates, fell to 2.37%!
• The lowest in History (approximately 50 years)(of record keeping by Freddie Mac)!

    The most important thing to keep in mind is that these are National averages!  So there are lenders out there that could very well offer even lower rates.  Of course factors like credit scores, debt to income, open tradelines, reserves, and other variables which can impact what can be offered to a potential borrower.  

    Here at Mason Mortgage Advisors we are a Brokerage that works with over 20 different lenders, all with multiple lending programs to give the borrow options.  We add value by placing a focused importance on mortgage rates and closing costs.  See what you quality for by visiting us at: http://applywithwooley.com  You will be glad that you did.  

Rates In The Past 3 Years:

Rates Since 1971:

http://www.freddiemac.com/pmms/

July 2020 Existing and Pending Home Sales (National Association of Realtors)

Key Factors Currently Driving the Real Estate Market (Alongside COVID-19)

Lumber Prices Hit an All Time High!

 

1. Tariffs On Imported Lumber(Canadian).
2. Housing Starts Up 22.6%(month-on-month)(People moving out of cities).
3. New Home Sales Up 36%(Year-over-year).
4. Home Improvement Projects Up b/c Work from home(and/or time off work) + Stimulus checks.
5. Social Distancing at Saw Mills created a reduction of supply.  
6. Historical Low interest rates created increase in demand.

Bloomberg Markets and Finance