Welcome back! I hope you have been comfortable within the cozy confines of your home through the shelter in place order these past two months.

Home has been multi-tasking as an office, school, gym and every day hang out for all in the family, households calling into service every square foot of space.

Those who have not been staying at home include the current crop of homebuyers willing to enter properties at their own risk garbed in PPE’s (personal protective equipment) to take advantage of ultralow mortgage rates.

Real estate was listed as an essential service soon after the SIP orders were given, and we have been able to list and sell our clients properties with proper protocols in place to keep everyone safe.

Stay at home spring sales were a bit of a bust but activity is picking up and we expect a busy summer. 2020 will not be a typical year when it comes to seasonal patterns in housing. Many sellers were reluctant to show their homes in March and April due to coronavirus fears, and low inventory kept sales numbers down.

We are now seeing signs of life in new listings coming on the market, along with multiple offers on prime properties. Hours spent sheltering in place together the past few months in a home too small for comfortable work at home spaces may have motivated some homeowners to find a better fit as soon as possible.

Summer shoppers should see more homes hit the market and be able to lock in low mortgage rates close to 3 percent.

Whether the inventory of properties for sale will continue to increase in the third and fourth quarter of 2020 remains uncertain, along with the trajectory of home prices. Don’t expect a flood of REO’s due to Covid-19, as many doomsayers are predicting.

Relief options for homeowners struggling to make mortgage payments due to the COVID-19 pandemic include up to 12 months of forbearance, and payment deferrals can be requested as of July 1.

Adriana Donofrio deasypennerpodley Glendora (626) 926-9700 adonofrio@dppre.com