• Home-buying demand is now 16.5% above pre-coronavirus levels on a seasonally adjusted basis, driven by record-low mortgage rates
• Demand for homes is far outpacing housing inventory. 45% of homes were on the market less than two weeks for the first two weeks of May.
• 3D and virtual home tours are becoming increasingly more popular as tech native Millennials prefer the use of technology.

Home-Buying Demand Reaches New Peak

Demand is 17% higher than it was before the pandemic, on a seasonally adjusted basis. Mortgage rates have stimulated the housing market, with the average 30-year fixed-rate mortgage at record lows of 3%.