What Can Buyers Expect from the Remainder of 2020?

September 16, 2020
Homebuyers looking nervous
By fizkes

To make predictions for the remaining months of the year may seem impossible because of lingering uncertainties, but one real estate pro took a crack at it. Tri Nguyen, founder and CEO of Network Capital Funding Corporation, forecasts possible changes to lending regulations, more attraction to affordable locales, and a reemergence of housing inventory. Though there has been some relief for borrowers, Nguyen writes in Forbes that even more helpful lending opportunities could be offered, such as a shortened approval time for refinancing applications and an opportunity to refinance mortgage without penalty if forced to initiate a forbearance agreement.

Trying economic times, especially those imposed largely because of federal mandates made in the name of health, warrant borrower-friendly protections. It is my hope that we will continue to see more regulations emerge with borrowers as beneficiaries.

A Steady Re-Emergence Of Housing Inventory

The verdict is in regarding how coronavirus initially impacted housing inventory, and the news has generally not been positive for those seeking to buy a home. Total housing inventory was down 24% by mid-May as a result of the pandemic, according to Redfin, but there may be reason to expect that evolving seller psychology could increase the number of available properties in the next six months.

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