Here are some tidbits that I read online today, in reference to the real estate market:
Real estate closings are still getting done, with many REALTORS® reporting no delays in closings according to a recent survey conducted by the National Association of REALTORS®. And nationwide mortgage applications were up last week, indicating home buyer confidence may be returning. Redfin has reported that in many areas, real estate listing is struggling to keep pace with demand, prompting well-priced Boston condos for sale to sell very quickly.
Americans moving out of the cities
According to a recent Harris Poll, nearly a third of Americans are considering moving to a less densely populated area, suggesting a coming influx of real estate activity in the suburbs.
With many Americans concerned about their ability to pay rent, a nationwide “Cancel the Rent” movement has emerged, with rent strike protests popping up in LA, San Francisco, and NYC. Landlords, many of whom are mom-and-pop shops, not big corporations, have pushed back saying Boston real estate landlords need relief, too