REAL ESTATE TIPS

A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.

The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.  Read More

EFFECT OF VIRUS, SHUTDOWNS, AND UNEMPLOYMENT ON HOUSING.
-          Courtesy of Drew Ludlow
          Broker/Realtor® - Ludlow Real Estate Group

The U.S. housing market has defied the odds during a public health crisis, economic recession, and the highest unemployment since the Great Depression. Home prices are surging nationally as buyers duke it out over a very limited number of properties for sale. However, there are fears the already battered economy is on the verge of taking yet another hit.
COVID-19 cases are spiking in many parts of the country, which could lead to a second round of shutdowns, furloughs, and layoffs in some areas.

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 WILL SURGING UNEMPLOYMENT CRUSH HOME SALES?
-      Courtesy of Drew Ludlow
              Broker/Realtor® - Ludlow Real Estate Group

Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th  is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis.

James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close.

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Wake County Property Market in June is Up Significantly

In Wake County, June 2020 real estate activity in dollar terms was up 35% compared to May 2020 and was nearly even with the pre-recession month June 2019. The number of deeds recorded in June was greater than in both May of this year and June 2019.
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New-Home Sales Post Strongest May Numbers in a Decade
According to a June 24th news release by the National Association of Realtors New-Home Sales Post Strongest May Numbers in a Decade as our
states start to wind down sheltering-in-place restrictions, easing the searches for new homes.
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