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Ralph Santos

Locate Your Dream Home











Ralph Santos

Healthcare Biz Brokers, Inc.

Why This Summer Is the 2020 Real Estate Season

May 27, 2020


With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”

Additionally, according to Google Trends, which scores search terms online, searches for real estate increased from 68 points the week of March 15th to 92 points last week. As we can see, more potential homebuyers are looking for homes virtually.

What’s the Opportunity for Buyers?

Another reason buyers are coming back to the market, even with forced unemployment and stay-at-home orders, is historically low mortgage rates. Sam Khater, Chief Economist at Freddie Mac indicates:

“For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic…As states reopen, we’re seeing purchase demand improve remarkably fast, now essentially flat relative to a year ago.”

With mortgage rates at such low levels and states gradually beginning to reopen, there’s more incentive than ever to buy a home this summer.

What’s the Opportunity for Sellers?

Finding a home to buy, however, is still a challenge, as this spring sellers removed many listings from the market. Though more people are now putting their houses up for sale this month as compared to last month, current inventory is still well below last year’s level.

According to last week’s Weekly Economic and Housing Market Update from realtor.com:

“Weekly Housing Inventory showed continued tightening. New Listings declined 28% compared with a year ago, as sellers grappled with uncertainty and hesitated bringing homes to market. Total Listings dropped 20% YoY, a faster rate than in prior weeks, leaving very few homes available for sale. As Time on Market was 15 days slower YoY, asking prices moved up 1.5% YoY.”

If you’re thinking of selling your house this summer, now may be your best opportunity. With so few homes on the market for buyers to purchase, this season may be the time for your house to stand out from the crowd. Trusted real estate professionals can help you list safely and effectively, keeping your family’s needs top of mind. Buyers are looking, and your house may be at the top of their list.

Bottom Line

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Reach out to a local real estate professional today to make sure you can get your house in on the action this summer.


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Joint Commission Hospice since 2015 in Santa Fe Springs, Low Census, 1200 Sq Ft office with a $1975/Mo (Mo-Mo Lease), contracts with Regal, Anthem, Lakeside IPA. Next survey Oct 2020. Clean agency with no billing or cap issues. Biz Ben #: 251168.
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Norwalk (LA County) HHC with a census of +/-20. Seller has access to referral sources with introductions to be made via goodwill from sale. $1,200 Lease - renews annually in October. No Billing issues. CDPH Accredited. Key employees. Biz Ben: #251625
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Located in Bellflower, this agency is CDPH Accredited with Seller retiring due to medical reasons. Census at +/-35. Past CDPH Re-Survey June 2019! No billing issues. Relocatable. $3224.00 per month on a month to month lease. Biz Ben #253415
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