Home sales across the country are down due to the coronavirus. However, interest in buying a home is on the rise in many markets. In April, Zillow reported that page views on for-sale listings were up 18% year-over-year. This is a huge change from the drop in home views experienced in mid-to-late March. Not only are many Americans feeling the itch to look for a new home now, but many are taking the next step and connecting with real estate agents. This signals that home sales and corresponding requested mortgages are likely to start increasing. Markets that are particularly having a lot of interest include Las Vegas, Los Angeles, Houston, Dallas, San Antonio, Atlanta, and Miami. To see a full chart, see this press release from Zillow.
What does this mean? If lenders were not already busy with home refinancing mortgages, they will likely be busy with new mortgages as we inch into summer. And, in order to process those mortgages, they will need a quick, efficient and safe way to process employment verifications. And, employers will need a way to respond to them that works well with what will continue to be a highly remote workforce. That’s where a software solution like Verifent can help. Verifent is a safe and compliant software solution that makes verifications more efficient for both lenders and employers. Explore our site to learn more. And, if you’re ready to talk, we’re here for you.