A Record 27% of Homebuyers Are Looking to Relocate, as Pandemic Accelerates Trend Toward Affordable, Less Dense Areas
A growing share of Redfin users look to leave the Bay Area, Washington, D.C. and Seattle for places like Sacramento, Las Vegas and Nashville.
A record 27.0% of home searchers looked to move to another metro area in April and May 2020, a new high in the share of Redfin.com users searching for homes outside their area. It’s up from 25.2% in the second quarter of 2019 and 26.0% in the first quarter of this year.
The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 87 metro areas in April and May, excluding searches unlikely to precede an actual relocation or home purchase. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a particular metro area, and homes in that area must make up at least 80% of the user’s searches. READ MORE
Ralene Nelson, REALTOR®
FOR SALE – 2707 Cathedral Circle in Brentwood
Location! Stunning rose garden, corner lot across from park. This beautiful updated 5 bedroom 3.5 bath single story home is move-in ready. Kitchen updated with white cabinets, stainless appliances, granite, hood over induction 5 burner stove top, double ovens & pantry. READ MORE
FOR SALE – 733 Brookside Lane in Rio Vista,
Lovely Yountville model with Solar, is located in the Trilogy Active Adult Community. Home boasts of charm with decorator colors. Tile floors, fireplace, french slider & shutters create a cozy great room. Kitchen is a chef’s delight with granite counters, Tile backsplash, 5 burner gas stove top, island for prepping & reverse Osmosis. READ MORE
10 Fun Fourth of July Activities That Will Make You Feel Extra Patriotic
Good food. Good company. Can’t lose!
1. Bake some patriotic desserts.
You can’t celebrate America’s birthday without some red, white, and blue desserts! After baking some of the best cupcakes, brownies, and 4th of July cakes, the whole family can join in on the festive decorating — or even compete in a friendly bake-off.
RELATED: 30 Festive 4th of July Cupcakes to Celebrate America’s Birthday in Style
2. Have a backyard movie night.
Level up your standard movie night by setting up a screening — and some cozy seating — right out on your lawn, then picking out an All-American movie that’s perfect for the holiday. Don’t forget the popcorn!
RELATED: The 25 Best Patriotic 4th of July Movies to Watch This Holiday
3. Go camping in your backyard.
It’s not a 4th of July celebration without a campfire and some s’mores! If you can’t make it to a real campsite this year, try a little backyard camping instead — just set up a tent (along with a great cookout, of course), and cap off the night with some scary stories around the fire.
4. Have a game night.
Looking for something that’s fun for the whole family? Organize a game night with some of the best board games — and if you want to make it on theme with the holiday, try out some special patriotic games (like 4th of July bingo or some American-themed trivia).
5. Have a jam session.
It’s no party without great music, so get some sing-a-long tunes going with your favorite patriotic songs on the guitar (or even just on the speakers). Belting out “Party in the U.S.A.” is a must, obviously!
RELATED: 15 Patriotic Fourth of July Songs You Need to Add to Your Playlist
6. Get a backyard barbecue going.
Fire up the grill for some great eats! Hot dogs and burgers are essential, of course, but don’t forget the tasty apps (and some festive drinks to cool off in the heat).
RELATED: 59 Easy 4th of July Recipes Your Family Will Devour
7. Get crafty with the kids.
What better way to keep the little ones occupied than with a fun holiday craft? Plus, these easy-to-make flower pots double as a great 4th of July decor!
Get the tutorial at Lolly Jane »
8. Have a backyard picnic.
It’s obvious that spending the 4th of July outdoors is ideal, so why not bring food and drinks right to your backyard? You’ll appreciate the sunshine and get a good meal in, too.
9. Make a splash in the pool.
Celebrate the fourth while sitting in a pool float with a drink in hand! It’s the perfect way to spend a sunny day with the whole family.
RELATED: 15 Ultimate Swimming Pool Games to Play This Summer
10. Get active outdoors.
Go for a hike, a long walk, or even a family bike ride this Independence Day. Bonus points if you all have red, white, or blue bikes!
Pending Home Sales Approach 2019 Levels, Powered by Record-Low Mortgage Rates
Buyers are Back
Pending sales are down just 3% from a year ago—a sign that real estate has almost completely recovered from the initial impact of the coronavirus shutdown in early April, when pending sales fell 41% from 2019. This follows a strong recovery in Redfin’s Demand Index since late April, and we expect closed sales to follow the same trend.
One of the biggest drivers of homebuyer demand right now is mortgage rates, which have continued to fall, hitting historic lows below 3% in mid-June.
With record-low mortgage rates, originators and real estate agents aren’t taking a holiday anytime soon
But you won’t hear them complaining
There is nothing normal about this July Fourth holiday. With COVID-19 cases spiking in the biggest states, the slow creep back to normal has been put on hold in many places, and the usual Independence Day celebrations are few and far between.
But, if you work in real estate or mortgage, you wouldn’t be taking time off anyway. The low mortgage rates we’ve seen since March when the Fed began its bond-buying spree are now setting all-time records, down to an average of 3.07% for a 30-year fixed as of this morning.