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Damon Smith Team NashvilleHouses.com | NashvilleHouses.com Blog

Wednesday, April 1, 2020   /   by Damon Smith Team NashvilleHouses.com

CoronaVirus and Housing -Home buying Season Will Shift 2 Months Behind Schedule.

FIRST----Home buying Season Will Shift 2 Months Behind Schedule. 
The peak usually starts early spring and lasts till early fall. However, with the COVID-19 shutdown, it’s very likely this season will push further into the year and be much more packed. We’ve talked with a many agents and almost all believe this will happen for a few reasons:
Home prices will drop
Mortgage rates will hover around historic lows
People will need to liquidate
A well-mixed cocktail of added demand from people who were about to buy or sell a home combined with the opportunity to buy at low prices in a shorter amount of time will lead to a much busier, healthier housing market towards the back half of the year.
SECOND--Mortgage Rates Will Not Drop as Much as You Think
Three weeks ago, the Fed dropped rates to 0 percent, while over the last two weeks the 30-year Fixed-Rate Mortgage actually went up 0.36 percent. If you’re confused, we understand. Here are the two re. ...

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