---
title: Home Buyers Guide [Summer 2020]
description: Summer 2020 real estate market is ripe for robust activity. Mortgage rates are at record lows, making borrowing costs low for buyers looking to purchase. 
image: https://university.hometraq.io/hs-fs/hubfs/Stock%20images/house%20at%20dusk-1.jpeg?upscale=true&width=300&upscale=true&name=house%20at%20dusk-1.jpeg
---

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## [Home Buyers Guide \[Summer 2020\]](https://university.hometraq.io/summer-2020-home-buyers-guide)

 Jun 12, 2020 3:53:18 PM / by [Brett O'Daniell](https://university.hometraq.io/author/brett-odaniell)

- [Tweet](https://twitter.com/share)

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](http://email.nar.realtor/c/13YRGDYdxL4oYVwx22v9loqTW)**, rising 54% since April, the Mortgage Bankers Association reported recently. Mortgage **[rates for 30-year loans have broken through record lows](http://email.nar.realtor/c/13YRH0sl80sTYK8y6UrJ8zA05)** 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](http://email.nar.realtor/c/13YRHJqAivfTYnmAgEkSIVScn)**, even as uncertainty around the pandemic persists.

 

| Most unique housing market... ever? April-July traditionally account for 40%+ of all housing transactions. 2020 has been much different.  Tour homes with social distancing? If you are nervous about touring homes, there are ways so you don't miss out. Common home seller questions.  Have you considered selling your home, but suddenly you realize you aren't quite sure where to begin? Lower home buying costs \[4 tips\] Will you have enough money to cover the costs? What do closing costs even cover? Ready to buy your first home? How do you really know you are ready to buy a home? Ask these 3 key questions... |
| --- |

 Topics: [house hunting](https://university.hometraq.io/topic/house-hunting), [touring homes](https://university.hometraq.io/topic/touring-homes), [homebuyers](https://university.hometraq.io/topic/homebuyers), [housing market](https://university.hometraq.io/topic/housing-market), [housing demand](https://university.hometraq.io/topic/housing-demand), [housing inventory](https://university.hometraq.io/topic/housing-inventory), [homebuying](https://university.hometraq.io/topic/homebuying)

![Brett O'Daniell](https://university.hometraq.io/hs-fs/hubfs/BrettODaniell.jpg?width=100&height=100&name=BrettODaniell.jpg)

#### Written by [Brett O'Daniell](https://university.hometraq.io/author/brett-odaniell)

Co-Founder of HomeTraq. 18+ years real estate and mortgage experience.

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