Buyers Remain Optimistic About Housing Market

It has become a daily occurrence that I am asked about my work and how things are going for me amidst the global pandemic. Fortunately, I have a very positive answer which typically sounds similar to "buyers are out seeing property and sellers are still receiving offers."

It sounds like I am not the only one who is experiencing regular activity throughout my day to day operations. Point2 Homes surveyed 2,900 visitors to its site from March 23 to 26 to find out their opinions on the short and long-term effects that the coronavirus will have on their home search. Researchers report that those between 45 and 54 are the most optimistic about buying at this time. Fifty-five percent of respondents said they are still looking to buy a home, regardless of the outbreak.

This global pandemic is a time of uncertainty for most people, though if you have a steady job and you are considering making a move, now is the time. Interest rates are at an all-time low and fewer buyers out in the marketplace will only continue to give active buyers more power when searching and putting in offers. As for sellers, there is still a limited amount of inventory thus indicating less competition for their specific property.

If you know of someone looking to find out about interest rates or specific questions regarding real estate, please reach out to me. No strings attached!

Source: NAR