June is Homeownership Month and we celebrate Americans who are becoming homeowners.  Everyone’s journey to homeownership is unique and there are many people involved in the process of realizing the American Dream.  Homeownership strengthens communities and provides stability for families and owning a home is essential to building personal wealth.  

Pent-up housing demand during the shutdowns is about to be unleashed as many coronavirus-related restrictions to daily life are lifted or relaxed and consumers return to the real estate market.  Home sales are bouncing back from their bottom during the COVID-19 pandemic and many buyers are moving quickly amid the return of bidding wars.

Looking forward, the market is ripe for robust activity. Mortgage applications are defying economists’ expectations, rising 54% since April, the Mortgage Bankers Association reported recently. Mortgage rates for 30-year loans have broken through record lows three times in as many months, making borrowing costs favorable for prospective buyers who are looking to get off the fence and purchase.  Meanwhile, home prices continue to rise, even as uncertainty around the pandemic persists.

Owning a home is more than having a permanent address. By investing in a home, you build financial stability, gain the freedom to create a home that fits your lifestyle, and play a role in strengthening your community!