Real Estate Market Update: April 17, 2020

April 17, 2020

Although Long & Foster’s offices remain closed to the public, we are here to serve our client’s real estate needs – while making health and safety a top priority. 

There’s still demand for housing, although some consumers have hit the pause button on purchasing or selling a home. Properties that are temporarily off the market, for example, have increased, but consumers continue to browse online for homes. 

With many people working remotely and spending more time at home, traffic and inquiries to Long & Foster’s website have increased dramatically, further demonstrating that the demand for housing remains strong.

While some mortgage companies have closed their doors or greatly restricted their lending policies, Prosperity Home Mortgage still offers the vast majority of loan products available in today’s market. Although mortgage guidelines are changing, conditions are favorable for qualified buyers and interest rates remain low. 

Long & Foster is a company that has weathered many storms, while successfully serving clients for more than 50 years – and will continue to do so for the next 50 years.  

If you want to learn more about the mortgage market today, contact a Long & Foster agent who can answer your real estate questions and connect you with a Prosperity partner.