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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Why This Summer Is the 2020 Real Estate Season

Why This Summer Is the 2020 Real Estate Season | Simplifying The Market

With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”


Additionally, according to Google Trends, which scores search terms online, searches for real estate increased from 68 points the week of March 15th to 92 points last week. As we can see, more potential homebuyers are looking for homes virtually.

What’s the Opportunity for Buyers?

Another reason buyers are coming back to the market, even with forced unemployment and stay-at-home orders, is historically low mortgage rates. Sam Khater, Chief Economist at Freddie Mac indicates:

“For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic…As states reopen, we’re seeing purchase demand improve remarkably fast, now essentially flat relative to a year ago.”

With mortgage rates at such low levels and states gradually beginning to reopen, there’s more incentive than ever to buy a home this summer.

What’s the Opportunity for Sellers?

Finding a home to buy, however, is still a challenge, as this spring sellers removed many listings from the market. Though more people are now putting their houses up for sale this month as compared to last month, current inventory is still well below last year’s level.

According to last week’s Weekly Economic and Housing Market Update from realtor.com:

“Weekly Housing Inventory showed continued tightening. New Listings declined 28% compared with a year ago, as sellers grappled with uncertainty and hesitated bringing homes to market. Total Listings dropped 20% YoY, a faster rate than in prior weeks, leaving very few homes available for sale. As Time on Market was 15 days slower YoY, asking prices moved up 1.5% YoY.”

If you’re thinking of selling your house this summer, now may be your best opportunity. With so few homes on the market for buyers to purchase, this season may be the time for your house to stand out from the crowd. Trusted real estate professionals can help you list safely and effectively, keeping your family’s needs top of mind. Buyers are looking, and your house may be at the top of their list.

Bottom Line

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Let’s connect today to make sure you can get your house in on the action this summer.

 

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
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$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
72 Lincoln Street St. Augustine FL 32084
New Listing - 3 hours on site
1 / 22
$449,999
2
BEDS
2
TOTAL BATHS
1,029
SQFT
72 Lincoln Street St. Augustine, FL 32084
Single Family Residence For Sale
- Active

Historic Lincolnville home beautifully remodeled. Built in 1912, this home was fully restored in 2018 and is like new. This updated Lincolnville home offers 2 bedrooms, 1.5 bathrooms, the spacious open kitchen has shaker cabinets, blue backsplash, m

Listing courtesy of Carol Bigelow of 1st Florida Realty LLC
614 Landshark Boulevard Daytona Beach FL 32124
New Listing - 17 hours on site
1 / 97
$439,900
2
BEDS
2
TOTAL BATHS
1,563
SQFT
614 Landshark Boulevard Daytona Beach, FL 32124
Single Family Residence For Sale
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Live vibrantly in this upgraded Antigua Villa in Latitude Margaritaville—perfect for those seeking the ability to live their best life now. Enjoy light plank tile flooring, tropical designer paint, and French doors on the den for a flexible guest spa

Listing courtesy of Kelley Sarantis of Bob Hodges and Sons Realty
213 S 26th Street Flagler Beach FL 32136
New Listing - 20 hours on site
1 / 47
$610,000
3
BEDS
2
TOTAL BATHS
1,406
SQFT
213 S 26th Street Flagler Beach, FL 32136
Single Family Residence For Sale
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Welcome to your dream beachside retreat in Flagler Beach! Perfectly situated just one block from the sandy shoreline and one block from the tranquil Intracoastal Waterway, this move-in ready 3 bedroom, 2 bath pool home offers the ultimate Florida lif

Listing courtesy of James Brodick of Realty Pros Assured

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SEARCH ALL HOMES IN THE GREATER DAYTONA BEACH AREA HERE

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Related posts:

  1. Are You Ready for the ‘Black Friday’ of Real Estate?
  2. 7 Reasons to List Your House This Holiday Season
  3. The 2020 Real Estate Projections That May Surprise You
  4. Summer is the New Spring for Real Estate [INFOGRAPHIC]

Posted in: Blog, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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