b'W ith stay-at-home ordersAdditionally, according toChief Economist at Freddieshowed continued tightening. starting to graduallyGoogle Trends, which scoresMac indicates: New Listings declined 28% lift throughout parts ofsearch terms online, searchesFor the fourth consecutivecompared with a year ago, the country, data indicatesfor real estate increased fromweek, the 30-year fixed-rateas sellers grappled with homebuyers are jumping68 points the week of Marchmortgage has been below 3.30uncertainty and hesitated back into the market. After15th to 92 points last week. Aspercent, giving potential buyersbringing homes to market. many families put their planswe can see, more potentiala good reason to continueTotal Listings dropped 20% on hold due to the COVID- homebuyers are looking forshopping even amid theYoY, a faster rate than in prior 19 pandemic, what we oncehomes virtually. pandemic As states reopen,weeks, leaving very few homes called the busy spring realwere seeing purchase demandavailable for sale. As Time on estate season is shifting into theWHATS THE OPPORTUNITY improve remarkably fast, nowMarket was 15 days slower YoY, summer. In 2020, summer isFOR BUYERS? essentially flat relative to a yearasking prices moved up 1.5% the new spring for real estate. A nother reason buyersago. YoY.Joel Kan, Economist at Theare coming back to theWith mortgage rates at suchIf youre thinking of selling Mortgage Bankers Associationmarket, even with forcedlow levels and states graduallyyour house this summer, now (MBA) notes: Applicationsunemployment and stay-at- beginning to reopen, theresmay be your best opportunity. for home purchases continue tohome orders, is historically lowmore incentive than ever to buyWith so few homes on the recover from Aprils drop. mortgage rates. Sam Khater,a home this summer. market for buyers to purchase, this season may be the time for WHATS THE OPPORTUNITY your house to stand out from FOR SELLERS? the crowd. Trusted real estate F inding a home to buy,professionals can help you list however, is still a challenge,safely and effectively, keeping as this spring sellers removedyour familys needs top of many listings from the market.mind. Buyers are looking, and Though more people are nowyour house may be at the top of putting their houses up for saletheir list.this month as compared to lastBOTTOM LINEmonth, current inventory is stillIf youre thinking of selling, many well below last years level. buyers may be eager to find a According to last weeks Weeklyhome just like yours. Lets connect Economic and Housing Markettoday to make sure you can get Update from realtor.com: your house in on the action this Weekly Housing Inventorysummer.'