REACH YOUR GOALS
5G Service Now a Central Selling Point
87% of consumers prefer a home with access to lightning-fast new 5G networks, according to a recent survey by Verizon. With speeds up to 100 times faster than the previous generation, 5G is becoming a central selling point for home buyers. Additionally, 69% of real estate professionals say their clients have been asking more about broadband, perhaps in response to the rise of working from home.1
Consumers Demand Online Mortgage Options
The past year has radically reshaped consumer expectations, with the availability of online mortgage options now a significant factor in choosing a lender. 58% in a recent survey by ICE Mortgage Technology said having an online application would influence their decision. 47% would base their decision on whether the lender offered a mobile app. Electronic signing is also a must-have feature.2
Employment Numbers Lower Than Expected
Many experts forecasted that the economy would create more than a million jobs last month as the recovery picked up steam. However, the actual number turned out to be only 266,000, leaving the unemployment rate at 6.1%. The beleaguered travel and hospitality industries saw the most significant gains, but other sectors held steady or even lost jobs. However, projections remain very optimistic for the rest of the year, and the markets did not see significant drops.3
DID YOU KNOW?
With such a tight supply of existing properties, nearly 26% of the homes on the market in the first quarter of the year were newly built.4
Pay Off Debt or Build Up Savings?
Many people had to dip into their emergency fund or even go into debt to make it through the pandemic slowdown. With the country finally emerging, advisor, Peter Dunn recommends keeping your spending levels low for a few months to restock both pots. He suggests building up a few thousand dollars in the fund first, repaying all debts, and finally replenishing the fund fully. That way, you cover any unexpected turns that might arise.5
REAL ESTATE TRENDS
Retirees Joining the Tiny House Movement
Tiny houses caught on big with young homeowners a few years ago, but now nearly 40% of occupants are older. And it's clear why: a home under 500 square feet is much less expensive, better for the environment, and easier to maintain than a full-sized property. It also offers a basic home base option for seniors who love to travel.6
1 magazine.realtor; 2 businesswire.com; 3 cnbc.com; 4 magazine.realtor; 5 usatoday.com; 6 moneytalksnews.comShare:
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