Although the appearance of Coronavirus, or Covid-19, has had some impact on the real estate markets, home sales in many areas of the country such as West Michigan are still strong.
With interest rates at record lows, homes have spent less time on the market and bidding wars have been common. In fact, according to Zillow, homes are selling at the fastest pace in more than two years.
The low interest rates have also driven new mortgage applications to rise more than 30% over the same week in 2019. As job losses slow and economic recovery steadies, buyer confidence also increases.
Home buyers desires have shifted since the appearance of Covid-19, prompting more buyers to seek out homes with space for a home office. As the number of people…