Homebuyers are stepping off the sidelines and have turned on their house-hunting mode, Realtor Magazine reports.
Low mortgage rates mixed with a friendlier lending environment parallel several recent housing reports showing a surge in buyer demand this month. Redfin’s monthly housing report shows home-tour demand has reached an all-time high, up 62 percent from the same week last year. The Realtor.com Housing Forecast Report expects Millennials to drive two-thirds of household formations over the next five years, with this year marking the beginning of a surge in first-time buyers.
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