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5 reasons why US housing market will stay strong through the pandemic - Business Insider

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Bank of America says to look at these 5 signs for how housing prices will fare in the pandemic

In fact, in mid-July, the average 30-year fixed mortgage rate fell to 2.98%, the lowest-ever recorded percentage by Freddie Mac, dating back to 1971.

BofA points to the urban exodus trend as one of the reasons housing was able to bounce back as quickly it did. four real estate agents — in Westchester County, the Hamptons, Northern New Jersey, and Southern Connecticut — who all said they've seen a massive influx of buyers from the city.An early June survey of 1,000 homeowners found 42% of those who bought during the pandemic reported entering into a bidding war.

 

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