With many changes happening throughout 2020, one thing has remained consistent; the growth of home purchase demand. The combination of historic low mortgage interest rates and lowering available homes for sale, the pressure has created home purchase demand.
Fannie Mae’s Home Purchase Sentiment Index (HPSI) hit a record high in July 2019, according to an article on FannieMae.com. They state that the increase results from “Confidence About Not Losing Job” as well as other factors.
Most of the country is enjoying a beautiful start to spring with flowers beginning to bloom and summer just around the corner.
For many, the spring season is a time when they consider purchasing a home. The residential real estate market in spring of 2018 brings with it some challenges for homebuyers as the inventory is limited, prices are increasing, and mortgage rates are on the rise.