COVID-19 has already had a dramatic effect on the real estate market. In barely more than a month, the crisis has halted what was shaping up to be one of the most active spring sales seasons in history. These past weeks, we’ve seen home showings come down 18% relative to last year, weekly volume of new listings drop 49% year-over-year, and mortgage forbearances jump to 6% of all mortgages outstanding. Many of us are now anxiously wondering: what effect will this have on home prices? Data from the housing market has given us valuable clues since the onset of the … Continue reading How Will COVID-19 Affect Home Prices and Affordability?
Are mortgage rates low? Are they high? How will the COVID-19 virus affect them? Below, we answer all these questions and more. Continue reading What’s Happening to Mortgage Rates?
In 2008 funding for “Property Tech”, or what’s more commonly referred to as prop-tech, accounted for a mere 20 million dollars. In 2018, 10 years after the financial crisis, that number has grown to $4 billion. The result of this … Continue reading How Divvy Fits into the Emerging Property Tech Industry
The real estate technology industry has experienced two strong “waves” of innovation over the past decade. Each wave encompassed approximately 5 years of development, and we are currently in the middle of an exciting third wave of progress. Wave 1 … Continue reading Real Estate 3.0: How a Decade of Technology Has Empowered Consumers
As millennials are about to surpass the Baby Boomers as America’s largest generation, their impact on the American housing market is becoming more significant. To find out exactly how they are changing the market, researchers at Apartment List asked 6,400 … Continue reading Millennial Homeownership Report: Millennials Can’t Afford Down Payments