Day: May 24, 2020

Home-buying Demand Surges on Record-Low Mortgage Rates

Just the Facts: Four Key Housing Market Takeaways for This Week

  • Home-buying demand is now 16.5% above pre-coronavirus levels on a seasonally-adjusted basis, driven by record-low mortgage rates
  • Inventory of homes for sale can’t keep pace with demand. Jerry Diaz, a Redfin agent in Nashville says, “I’m showing a lot of houses, but not selling as many as I could because they’re gone before we can write an offer.” Forty-five percent of the homes under contract in the seven days ended May 15 were on the market less than two weeks
  • The migration from expensive metropolitan areas to smaller cities
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Melbourne developments built for staying in

Spending more time at home has more appeal when home is a lavish space like the Melbourne Square development by OSK in Southbank.

Spending weeks in lockdown has forced Melbourne to embrace the idea of living local.

And from built-in fast internet supporting workers at home, to in-house ballrooms, the city’s developments are embracing it, too.

Marshall White Projects director Leonard Teplin said high-rise buildings were now often designed as “self-sustaining ecosystems” where staying in was part of the lifestyle.

RELATED: Greenvale house with 18-hole mini golf course for sale

Assemble Kensington apartments: Buyers can ‘test drive’ new home


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