The pandemic keeps manifesting itself in
the housing market in small but potentially significant ways and there was
another data point in Black Knight’s new Mortgage Monitor report. The
report focuses on delinquencies, price increases, and the continuing inability
of servicers to retain customers in the refinancing frenzy. However, it also
notes some differences that seem to be developing in pricing, inventory, and
delinquencies in the condominium sector. 
These may be related to the perceived
trend for homebuyers to seek out less dense living situations to protect
themselves and their families against exposure to the COVID-19 virus, to want to
be able to spend more leisure time outdoors for the same reason, needing more
space for working and learning at home, and for commuting time to be of less
concern given the acceptance of remote work. While these trends are impacting
all types of housing, Black Knight says, “the pandemic has shaped the condominium
market in an inverse way.”

 

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