seventy five% of homebuyers surveyed reported the pandemic modified their plans: twenty five% boosted their timelines, 20% slowed their timelines and seventeen% now want a much less high priced house.
SEATTLE – Three-quarters of homebuyers who prepare to invest in a house inside of the following twelve months say the coronavirus pandemic has impacted their homebuying plans: twenty five% reported it triggered them to transfer or velocity up their timeline, 20% reported it triggered them to hold off moving plans and seventeen% are now hunting for a much less high priced house. Specially:
- sixteen% reported the pandemic has triggered them to want to transfer
- fifteen% reported it triggered them to transfer sooner than at first prepared
- six% chose each options
“Somewhat counterintuitively, the coronavirus-driven economic downturn is propping up the housing market,” suggests Redfin Main Economist Daryl Fairweather, creator of the current review. “Homebuyer demand is surging even with GDP taking a historic nosedive in the second quarter, mostly due to the fact Americans worth the house extra than ever and are inclined to prioritize housing even as they lower again on other bills. Additionally, the Fed is applying reduced desire charges to stimulate the financial state, which is providing buyers extra paying for ability and boosting house sales.”
- 21% want a designated region to perform from house
- 21% want extra out of doors space
- 10% of respondents now want a even larger house
- 7% want a designated space for youngsters to master from house
Why modified plans?
- Of people today setting up to transfer, fifty five% reported reduced home loan charges are a variable in their modified plans
- 52% reported investing extra time at house is a variable
- 40% reported functioning from house contributed to their want to transfer
© 2020 Florida Realtors®