Purchase

The shutdown imposed by the coronavirus pandemic may have caused an abrupt drop in the real estate business, but early indications show the recovery will come just as quickly.

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

Single-family home sales in Tampa Bay plummeted in May at rates much higher than even April's year-over-year declines as the pandemic continued to stunt the market, according to new figures released by Florida Realtors.

For potential higher-end homebuyers, the pandemic was merely a pause, but for those seeking affordable properties — often people of color — it created yet another barrier.

New-home sales rose more than expected in May, with record-low mortgage rates pulling buyers back into a housing market that froze up during the pandemic.

May was April all over again for home sales in Santa Fe, N.M.

Though some sectors of the economy might be in for a more prolonged recovery after the coronavirus shutdown, the housing market in the South Bend, Ind., area appears poised for a quick rebound.

The roller-coaster effect of national spending, Oregon's unemployment rate and conflicting economic forecasts are reflected in Portland's residential real estate market.

With the average borrower needing over two decades to save a 20% down payment for the median-priced home, private-mortgage-insured loans experienced major growth in 2019.

Sales of previously owned homes dropped in May by more than forecast to the lowest level since October 2010 as the coronavirus pandemic sent demand skidding along with the rest of the economy.

While home-buying season was on hold due to the coronavirus, a dearth in supply could hamper any big rebound in sales.

JA wave of new homebuyers from the northeast and other parts of the country flooded the Hilton Head, S.C., real estate market over the past few weeks.

Buying power for many consumers is hampered and some originators said that affects their ability to serve consumers.

The coronavirus lockdown walloped California house sales in May, resulting in a 41.4% drop in transactions from the previous year, the California Association of Realtors reported.

House listings in the Twin Cities metro during May were down nearly 25% compared with last year.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.

Prices have continued to rise, although the pandemic closures have slowed that down: The region's median sales price last month was $257,048, up 1.6% from May 2019, according to Georgia MLS.

Mortgage rates fell 8 basis points this week to a new low as the economy remains shaky and there are new flare ups of the coronavirus, according to Freddie Mac.

The coronavirus put a dent in May's home sales and inventory, but some indicators offer hope for a turnaround on the horizon.

The number of existing, single-family home sales that closed last month fell 51.1% compared with the same month last year and the median price dropped 2.5%, according to the California Association of Realtors.