As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend in this direction of moving from urban to suburban communities, but the question is: will the trend continue?
According to recent data from Zillow, there is a current surge in urban high-end listings in some larger metro areas. The month-over-month increase in these homes going on the market indicates more urban homeowners may be ready to make a move out of the city, particularly at the upper end of the market (See graph below):

Why are people starting to move out of larger cities?

With the ongoing health crisis, it’s no surprise that many people are starting to consider this shift. A July survey from HomeLight notes th. ...

Gov. Ron DeSantis vowed Thursday that the Republican National Convention next month in Jacksonville will be “a safe environment,” despite widespread concerns about increasing coronavirus cases across Florida, DeSantis, during an appearance in Jacksonville, said he wasn’t surprised about talk of moving some of the four-night event from inside the 15,000-seat VyStar Veterans Memorial Arena to an outdoor stadium or setting.… Fidelity Home Group | Orlando Mortgage Company | Florida Mortgage

Florida Education Commissioner Richard Corcoran is facing backlash from Florida's teachers union for mandating that all school campuses reopen in the fall.… Fidelity Home Group | Orlando Mortgage Company | Florida Mortgage

Black Knight's weekly report on the numbers of
mortgage loans in COVID-19 forbearance plans shows that a decline in those
numbers of nearly a half million last week. More than 435,000 homeowners exited
the plans, the largest drop yet. As of July 7, 4.14 million homeowners were in the
plans which allow them to skip or reduce their mortgage payments if they are
suffering financial problems due to the pandemic. This represents 7.8 percent of
mortgage lenders and just under $900 billion in unpaid principal. This is the
smallest number of plans since April 28. Some 6.0
percent of all GSE-backed loans, 1,678,000 in number,
and 11.6 percent of all FHA/VA loans (1,399,000)
are currently in forbearance plans. Another 1,067,000
or 8.2 percent of loans in private label securities or banks' portfolios
are included in the total.
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Trend channels in financial markets are some of the most basic forms of analysis.  They consist of lines drawn along the highs and lows of a charted security.  When parallel lines can be drawn that connect more than a few highs and lows, you have a trend channel!  It's even acceptable for the security to break outside the lines here and there if they are still capturing a majority of the bounces.  The goal of a trend channel is right in the name: we're trying to capture a general trend that speaks to the pace of improvement or deterioration in any given security.......(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.Fidelity Home Group | Mortgage News | Mortgage Rates