Homebuyer’s are getting back in the game

Real Estate

Social distancing orders are being loosened across the country, and it seems homebuyers are taking full advantage. According to the latest data from the Mortgage Bankers Association, applications to purchase a home were up 11% last week, marking the third straight week of increases.

To be fair, purchase activity is still down 10% over the year, but that year-over-year gap is thinning out every week. In April, the number of purchase loan applications was down 35% annually.

New York saw a 14.3% uptick in purchase loan applications—the biggest in the country, while Illinois, Florida, Georgia, California, and North Carolina also saw double-digit jumps for the week.

Find more information here: https://www.forbes.com/sites/alyyale/2020/05/14/as-stay-at-home-orders-ease-homebuyers-are-getting-back-in-the-game/#5c00703374c5