Spring Housing Market Softens

As we wait for the next wave of unemployment claims to come in, we look to the housing market for any indication on futures. With mortgage applications sliding over 30% year-over-year, it’s no surprise this spring 2020 will be historically low for new home purchases – increasing the inventory on the market and slowing new build growth. Yet, stimulus and cabin fever may spark interest later in the year.

2020 Mortgage Applications

 

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