With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”

ShowingTime, a market stats technology provider for the real estate industry, recently released its data on showing statistics for the first few weeks of May. As you can see from the graph below, showing activity actually surpassed 2019 levels and continued to climb as the month progressed. Indicators such as this help highlight the strength of the Boston real estate market and suggest that the market activity expected in spring may just occur a bit later this year.

As the country begins to slowly reopen, moving forward in strategic phases, business activity will help bring our nation back to life. Many economists indicate a recovery should begin to happen in the second half of this year. Here’s a look at what some of the experts have to say:

[This is a guest post by Bryce Thompson].

Being stuck within the same set of walls for weeks at a time is enough to give even the most introverted homebody a case of cabin fever. But this particular cloud has a silver lining. When you’re unable to go out, staying in can be a lot more bearable with a good project or two. If you’re stuck at home, there are plenty of easy improvements you can tackle. 

Where There’s a Wall, There’s a Way

Interior painting is the ultimate do-it-yourself project. It doesn’t require a lot of specialized equipment. You can do it in pieces, so you can move at your own pace. And the materials you’ll need are inexpensive — especially when compared to lumber and other DIY project staples. Two tips from the pros:

The coronavirus continues to impact the entire world - causing disruption and changes in all industries and the Boston real estate market is no different. As the situation develops and new aspects are learned, we continue to monitor and evolve with regulations to protect clients and better navigate the changing environment. These unprecedented circumstances impact all aspects of the real estate transaction from showings to closings and everything in between. At Berkshire Hathaway HomeServices Warren Residential, we continually read guidance from the National Association of REALTORS® (NAR), WHO, and CDC as well as local organizations to make sure we are operating in the best interest of our staff and clients' safety. 

As an office, we are following

For over ten years, James has worked with investors, buyers, and sellers in the Greater Boston. As a senior associate at BHHS Warren Residential, he offers a personalized experience for his clients, allowing them to realize their unique real estate dreams even in a tight market. As a result, most of his business comes from referrals. A few years ago, he put all of his listings on the market under agreement in only the first weekend, each more than 5% over the asking price. This highlights his tremendous knowledge of the market and dedication to achieving success for his clients. "James has built his home and a wonderful business in Boston and his clients know that he truly loves this city," says Nick Warren, CEO. "This is even evident in his social

We are so proud of our agents for coming together and sending lunch to the healthcare workers on the Blake 12 ICU Floor at Mass General Hospital. This unit has recently been changed over from a trauma surgical ICU to one which only handles COVID-19 patients. The nurses, doctors, and staff, which include our CEO Nick Warren wife, Nicole Anne Warren, are putting their own health and safety on the line to help the people who need it most. They are true heroes during this difficult time. We encourage other businesses and individuals to consider sending lunch to one of the area hospitals to support these hard-working people and give them a delicious break. Plus, this is the time we need to continue supporting local restaurants like The Upper Crust Pizzeria

With everything going on with the coronavirus, there have been a lot of changes in the Boston real estate market. Nick outlines some of the things buyers and sellers can expect right now as well as what BHHS Warren Residential is doing during this time to help our clients. He also gives a couple of suggestions on things people can do at home to enjoy the Boston community they love.

Although it is evolving often, what are some of the things buyers and sellers need to know about the coronavirus impact on Boston real estate?

This is the question that our clients are asking us most often but is probably one of the hardest to actually answer.  As of today, we are still seeing transactions happen but the volume is significantly down compared to this

Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, today announced it was recognized as “Real Estate Agency Brand of the Year” and “Highest Ranked in Trust and Love” in the 32nd annual Harris Poll EquiTrend® study.

In January 2020, more than 39,000 U.S. consumers rated nearly 2,000 brands across 200 categories. Berkshire Hathaway HomeServices received its distinctions in the Real Estate Agency category based on consumers’ perception of its brand familiarity, quality and purchase consideration, among other qualifying factors.

We are honored to be recognized once again by consumers in the respected Harris Poll EquiTrend® study,” said Chris Stuart, CEO of Berkshire Hathaway

All of us are spending more time at home right now but that does not mean that you have to miss out on many of the experiences that make Boston a special place to live. Using the joys of technology, there are a ton of ways to "see" and "visit" Boston landmarks and attractions from the comfort of your home. Here are some of our favorite online experiences:

Boston Symphony Orchestra

The BSO is holding nightly concerts, Monday through Saturday, at 8 pm online for free! What a great way to remind of ourselves of the value of live performances. Check them out here.

Here is the upcoming schedule:

March 30 - Christian Zacharias Conducts Schubert
March 31 - Tetzlaff Plays Beethoven's Violin Concerto
April 1 - Moser Plays Dvorák
April 2 - A Midsummer

This month, Nick takes a look at the multifamily market and offers tips for investing in Boston’s real estate market. As the months turn warmer and the spring season is upon us, the time may be perfect to look for investment opportunities. He also looks at changes in Boston’s multifamily market over the past few years and predicts what we can expect to see in 2020.

For someone looking to make their first investment purchase in Boston, what tips would you give them?

The first thing you should do is talk to a lender who has experience with investment properties to find out what you can afford.  Investment properties require higher down payments and the mortgage rates are typically higher than those used when lending on a personal residence.  This