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.

Coming Soon listings continue to become more common as the local housing inventory tightens.  It causes concern among buyers, sellers and real estate professionals.  It has prompted real estate commissions across the country to issue guidance on the topic. Here’s what you need to know to keep informed and to understand all sides of the equation.

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Here are a few quick ALERT tips that can make your home search much more intuitive. All you have to do is login to HomeScout and the red arrows highlighted in the images below will help you unlock these powerful features. Make sure to refine and save your Search Criteria and then turn on New Listing and Open House Email Alerts so you don't miss out when properties become available.